Question

provided interest on capital Rs. 1200000 @8% p.a. for one month journal enteries

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Answer 1

Explanation:

Interest on Capital A/c dr. 8000

To Partner Capital A/c 8000

Answer 2

Explanation:

1200000%8*1%12 = 8000 interest on capital a/c. dr. 8000 To partner's capital a/c. 8000