Question

Interest on loan given to a partner is recorded:
Dr.of P/L Account
b) Cr.of P/L Account
c) Dr of P/L Appropriation Account
d) Cr.of P/L Appropriation Account​

Answer 1

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solution :-

✅✅ option (A) is correct .

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Answer 2

Answer:

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a) Dr side of p&l account

• because interest on lone is expense of the business and all the expense are recorded in profit and loss account debit side.

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