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If loan of Rs 1 lake …

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If loan of Rs 1 lake from X a partner, apperars on the liabilities side of the balance sheet of the firm and X' s capital account has a debit balance of Rs 10 ,000 what jonrnal entry will be passed on payment of such loan at the time of dissolution of firm

Posted by Karan Music 6 years, 10 months ago

CBSE > Class 12 > Accountancy

3 answers

Harika Muskan 6 years, 10 months ago

X's loan a/c......dr. To cash / bank a/c This is correct entry

Harika Muskan 6 years, 10 months ago

Sry X'loan a/c is to b debited

Harika Muskan 6 years, 10 months ago

X's capital a/c.....dr. To cash / bank a/c

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