How is the premium paid on the JLP of the partners treated ? It is….to the….. accounts.
A. credited, partner’s current account
B. credited, profit & loss account
C. debited, partner’s capital account
D. debited, profit & loss account
Answer:D
How is the premium paid on the JLP of the partners treated ? It is….to the….. accounts.
A. credited, partner’s current account B. credited, profit & loss account C. debited, partner’s capital account D. debited, profit & loss account