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Chandan and Gurman are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively

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Anurag Pathak28.35K April 22, 2024 0 Comments

Chandan and Gurman are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively. Interest on Loan is agreed to be 10% p.a. Books are closed on 31st March every year by the firm.

Pass the Journal entries for loan and interest on Loan by the partners.

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Anurag Pathak28.35K Posted April 22, 2024 0 Comments

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Anurag Pathak

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Chandan and Gurman are partners sharing profits and losses in the ratio of 2 : 3. They had opening credit balance in their Loan Accounts of ₹ 5,00,000 and ₹ 4,00,000 respectively

1 Answer

Anurag Pathak

1 Answer

Anurag Pathak

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