Naman's loan of Rs. 20,000 is settled: stock taken at agreed value Rs. 18,000 (credited to Realisation A/c) and balance Rs. 2,000 paid in cash. Entry: Naman's Loan A/c Dr 20,000 To Realisation A/c 18,000 To Cash A/c 2,000.
Raman and Naman were in partnership sharing profit and losses as 3 : 2. Their partnership firm was dissolved on 31 March 2022. On the date of dissolution, Naman's loan was Rs. 20,000. Naman agreed to take stock (already transferred to Realisation A/c) of Rs. 15,000 at Rs. 18,000 and balance in cash for the settlement of loan. Journal Entry for above transaction is:
Held on 20 Aug 2022 · Verified 13 Jul 2026.
Naman's Loan A/c Dr 20,000
To Realisation A/c 18,000
To cash A/c 2,000
Naman's Loan A/c Dr. 20,000
To Realisation A/c 15,000
To cash A/c 5,000
Naman's Loan A/c Dr. 20,000
To Realisation A/c 20,000
Naman's Loan A/c Dr. 20,000
To Realisation A/c 12,000
To cash A/c 8,000
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