Rohan, Mohan and Sohan were partners sharing profits equally. At the time of dissolution of the partnership firm,
Rohan’s loan to the firm will be transferred to which account?
Answer & explanation
Correct answer: option 4
At the time of dissolution of the partnership firm, Partner's loan to the firm will be credited to bank account.
For payment of loans due to partners
Partner’s Loan A/c Dr.
To Bank A/c
For payment of loans due to partners
Partner’s Loan A/c Dr.
To Bank A/c