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If A paid rent of Rs 12500 for the firm from personal cash what adjustment will be made in As account?

Answer and explanation

Correct answer: Credit Rs 12500 to As account

A paid a firm expense from personal funds so the firm owes him. In such adjustment the partners account is credited.

Related tags

Expense Paid By PartnerCreditAdjustmentAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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