Question

In case of interest on drawings charged on deceased partner's capital account, what will be the journal entry?

• A. Bank A/c Dr. To Deceased partner's capital A/c
• B. Interest on Drawings A/c Dr. To Bank A/c
• C. Interest on Drawings A/c Dr. To Deceased partner's capital A/c
• D. Deceased partner's capital A/c Dr. To Interest on Drawings A/c

Answer 1

The correct option is D

Deceased partner's capital A/c Dr.

To Interest on Drawings A/c

In case of interest on drawings, the journal entry is :

Deceased partner's capital A/c Dr.

To Interest on Drawings A/c