Accountancy, asked by arnavprasad1008, 7 months ago

(c) Interest on Partners' Loan​

Answers

Answered by monikamondokar
2

Answer:

To Interest on Loan A/c (Being interest on loan transferred to P & L A/c) It is always DEBITED to Profit and Loss A/c Rent paid to a partner is also a charge against profits and it will also be DEBITED to Profit and Loss A/c.

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