When the retiring partner's entire balance is to be paid later as a loan, the amount is transferred from his Capital Account to his Loan Account. His Capital A/c is debited to close it, and Loan A/c is credited to record the liability.
At the time of retirement of a Partner if retiring Partner's whole amount is treated as loan, then the total amount is Debited in :
Held on 20 Jul 2022 · Verified 13 Jul 2026.
Retiring Partner's loan A/C
Retiring Partner's capital A/C
Retiring Partner's currnet A/C
Bank A/C
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