Jyoti and meeta partner in a firm sharing profit and losses equally .Their fixed capital were jyoti Rs.80000 and meeta Rs. 60000 . For the year 2001 interest on capital was credited @ 5% instead of 6%. Give the necessary adjusting entry for rectification of the error.
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Jyoti and meeta partner in a firm sharing profit and losses equally .Their fixed capital were jyoti Rs.80000 and meeta Rs. 60000 . For the year 2001 interest on capital was credited @ 5% instead of 6%. Give the necessary adjusting entry for rectification of the error.
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give the adjusting entry for rectification of the error
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