An advance of Rs 10000/- is received from customer.
pass necessary journal entries
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Answer Posted / harendra
cash A/c ---------- Dr. 10,000
To Advance A/c 10,000
(Being cash Advance received from customer)
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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
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