Give one transaction which will decrease the liabilities and increase the capital
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Conversion of patners credit into capital
its possible when a creditor of the firm gives a loan to the firm and later becomes a member of the firm ,then the liability towards the creditors will be converted into capital.
its possible when a creditor of the firm gives a loan to the firm and later becomes a member of the firm ,then the liability towards the creditors will be converted into capital.
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