If the Partners’ Capital Accounts are fixed ‘salary payable to partner’ will be recorded :
A. On the debit side of Partners’ Current Account
B. On the debit side of Partners’ Capital Account
C. On the credit side of Partners’ Current Account
D. None of the above
Answer:C
If the Partners’ Capital Accounts are fixed ‘salary payable to partner’ will be recorded :
A. On the debit side of Partners’ Current Account B. On the debit side of Partners’ Capital Account C. On the credit side of Partners’ Current Account D. None of the above