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Class 12 Accountancy Reconstitution - Retirement or Death of a Partner Partner's Loan AccountEasy

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Which item will not appear on the debit side of a retiring partner's loan account?

Answer and explanation

Correct answer: Interest due

Interest due increases the loan so it appears on the credit side. Exam tip: keep the sides of interest and payment separate.

Related tags

Debit Side Interest Ledger Partner's Loan Account Partner S Loan Account Reconstitution Retirement Or Death Of A Partner Accountancy Class 12 Mcq

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