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What amount is obtained by adding the unpaid amount and interest in a retiring partner's loan account?

Answer and explanation

Correct answer: Total amount payable

The sum of unpaid amount and interest gives total amount payable. Exam tip: add both when total payable amount is asked.

Related tags

Total PayableInterestLoan AccountPartner's Loan AccountPartner S Loan AccountReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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