Dear Sir

whether sales and purchase ledger entry above Rs. 20000/- in cash can be made or not. please clarify me in detail

I have only 2 queries

1, 4 Partners A,B,C,D creates a partnership firm after 1 months there are some purchases which will be paid to sundry creditors but partner B says i will pay to all creditors so how to do entry of it ?

2, partner D want to retired from partnership firm after 1 year. after calculation of capital, partner A decided to pay to partner D all his capital in this case how to do entry in account of partnership firm ?

thank you very much for listening

waiting.....

Sir
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