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accounts258
Level 1
posted
‎March 20, 2020 04:23 AM
last updated ‎October 05, 2020 7:23 PM

What is the journal entry when partner's Personal loan is paid by the partnership firm

 
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svaishnavi
Moderator
Moderator
‎March 22, 2020 09:25 PM

What is the journal entry when partner's Personal loan is paid by the partnership firm

Hello,

 

You can debit an account that indicates "receivable from partner" and credit the firm's bank account.

 

Also, please run this by your CA first. 

 

I hope this helps. 

 

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