Question
A personal debt of $10,000 in the T & H partnership is paid by Partner H. The correct entry to pay this debt would be:
A personal debt of $10,000 in the T & H partnership is paid by Partner H. The correct entry to pay this debt would be:
A. Debit to Partners T & H capital accounts for $10,000
B. Debit to Partner H capital for $10,000
C. Debit to partner T capital for $5,000, Debit to partner H capital for $5,000
D. Debit to Partner H drawing for $10,000
E. None of the above
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
13th Edition
8120335643, 136126634, 978-0136126638
