It the Partner’s Capital Accounts are fixed, interest on capital will be recorded:
A. On the credit side of Current Account
B. On the credit side of Capital Account
C. On the debit side of Current Account
D. On the debit side of Capital Account
Answer:A
It the Partner’s Capital Accounts are fixed, interest on capital will be recorded:
A. On the credit side of Current Account B. On the credit side of Capital Account C. On the debit side of Current Account D. On the debit side of Capital Account