Partner's loan is paid through Mukund Loan A/c. The excess payment of 5,000 above the loan amount is a loss, debited to Realisation A/c.
Entry: Mukund Loan A/c Dr 50,000; Realisation A/c Dr 5,000; To Cash A/c 55,000.
Mukund's Loan of Rs. 50,000 to the firm, was settled at Rs. 55,000 at the time of firm's dissolution, where Mukund was one of the partner. What entry will be passed ?
Held on 11 Jun 2023 · Verified 13 Jul 2026.
Mukund Loan A/c Dr 50,000
Mukund Capital A/c Dr 5,000
To Cash A/c 55,000
Mukund Loan A/c Dr 50,000
Realisation A/c Dr 5,000
To Cash A/c 55,000
Mukund Loan A/c Dr 55,000
To Cash A/c 55,000
Cash A/c Dr 55,000
To Mukund Loan A/c 50,000
To Realisation A/c 5,000
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