Skip to main content
March 20, 2020
Question

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

  • March 20, 2020
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

March 23, 2020

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.