Question

Tom and Harry were partners in a firm sharing profits in the ratio 5:3 .During the year ended 31st march 2015 Tom had withdrawnRs 40000.intrest on his drawing amount ed to Rs2000.pass necessary journal entry changing intrest on drawing assuminh that the capital ay the partners were fluctuating.​

Answer 1

Answer:

Interest of drawing ' s a / c Dr. 2000

To tom ' s current a / c 2000

( Being interest of drawing charge )

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