Interest due on loan amount is credited to ___

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Cash/ bank account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Retiring partner`s loan account

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Retiring partner`s account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Retiring partner`s loan account

Interest due on loan amount is credited to retiring partner`s loan account.

Suggest Corrections

Similar questions

When the amount due to retiring partner is paid by cheque, which account is credited?

Join BYJU'S Learning Program