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Wick, Candle and Flame have been partners for many years. Candle is retiring and will take over one of the partnerships loans. What is the

Wick, Candle and Flame have been partners for many years. Candle is retiring and will take over one of the partnerships loans. What is the double entry to record this?

a. Account to be debited: Loan

Account to be credited: Revaluation

b. Account to be debited: Loan

Account to be credited: Capital - Candle

c. Account to be debited: Loan

Account to be credited: Realization

d. Account to be debited: Loan

Account to be credited: Bank

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