Sony and Romy are equal partners with fixed capitals of ₹4,00,000 and ₹3,00,000 respectively. After closing the accounts for the year ending 31st March, 2019 it was discovered that interest on capitals was provided @ 8% instead of 10% p.a. In the adjusting entry:
(1) (A) Sony will be credited by ₹8,000 and Romy will be credited by ₹6,000.
(B) Sony will be debited by ₹8,000 and Romy will be debited by ₹6,000.
(C) Sony will be debited by ₹1,000 and Romy will be credited by ₹1,000.
(D) Sony will be credited by ₹1,000 and Romy will be debited by ₹1,000.
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(B) sony will be debited by ₹8,000 and romy will be credited by ₹1,000
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