Realisation Expenses, ₹15,000 were paid by the firm on behalf of a partner. What will be the Journal Entry? |
Realisation A/c Dr. ₹15,000 Realisation A/c Dr. ₹15,000 Concerned Partner’s Capital A/c Dr. ₹15,000 Cash/Bank A/c Dr. ₹15,000 |
Concerned Partner’s Capital A/c Dr. ₹15,000 |
If realisation expenses were paid by the firm on the behalf of partner then those expenses will be Debited to concerned partner's capital account. |