P and Q were sharing profit and losses in the 3:2. They decided to dissolve the partnership. There was a Deferred Advertisement Expenditure A/C appeared in the books at Rs 30,000. Journal Entry will be-
Answer & explanation
Correct answer: option 4
Deferred Expenditure will be debited to partner's capital a/c.
30,000*3/5 = 18,000 - P
30,000 * 2/5 = 12,000 - Q