Class 12th Account chapter 1 question 14 solution (ts grewal)

Question:

Parul, Paresh, and Rahul are partners in a firm.

The firm gave a loan to Rahul on 1st February, 2024, of ₹6,00,000.

Interest was agreed to be charged @ 6% p.a.

Rahul paid interest by cheque up to February, 2024, on 5th March, 2024.

The balance was paid by him on 5th April, 2024.

Pass the Journal entries for interest on loan to partner.