Consider there is a Partnership Firm A/c with four partners A, B,C & D and the firm has taken CC Loan from bank, for which Recurring Deposits were issued in name of Partners as collateral security. Arising confusion is that, where should this entry be shown, whether in assets under a single heading of RD OR under separate entries in the Capital A/c under individual partners keeping in mind that taking the latter step will also reduce the capital input in firm.
I suppose I've tried my best to make my question clear.
Please help and thanks in advance.
CAclubindia
