Question

At the time of admission of a new partner in a firm, it was discovered that creditors appearing in
the books include an amount of Rs.10,000 received as commission from Dev.
In the entry to adjust the creditors:
a) Dr. Creditors A/c and Cr. Commission A/c with Rs.10,000
b) Dr. Creditors A/c and Cr. Revaluation A/c with Rs.10,000
c) Dr. Revaluation A/c and Cr. Creditors A/c with Rs.10,000
d) Dr. Dev A/c and Cr. Revaluation A/c with Rs.10,000


What is the ANSWER?

Answer 1

Answer:

debit creditors Account

and credit revaluation Account