Class 12th Account chapter 1 question 9 solution (ts grewal)

Akhil, Sunil and Parvesh are partners sharing profits in the ratio of 3:2:1.

Opening balance of Loan by Sunil’s Account was ₹3,00,000.

Interest payable was agreed @ 10% p.a.

Interest was paid by cheque up to February, 2024 on 1st March, 2024, and the balance was yet to be paid.

Pass the Journal entries for interest on loan by partner.