Which Journal Entry will be recorded for

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

Which Journal Entry will be recorded for realization of unrecorded asset at the time of dissolution of a Partnership Firm.

Options:

Bank Account Debit & Unrecorded Asset Account Credit.

Realisation Account Debit & Bank Account Credit.

Unrecorded Asset Account Debit & Bank Account Credit.

Bank Account Debit & Realization Account Credit.

Correct Answer:

Bank Account Debit & Realization Account Credit.

Explanation:

The correct answer is Option (4) → Bank Account Debit & Realization Account Credit.