How to post an entry when a supplier has waived our debt

You will need to credit Discount Received Account & debit supplier account..

When profit is transferred to partners capital account.  Debit P&L Appropriation A/c & Credit Partner's capital account.

Creditors waiver.

Party Name A/c              Dr

            To Liabilities written Back A/c (Income)     

Profit drawings

P&L appropriation A/c     Dr

    To Retiring Partners Capital A/c

Instead of liability written back, discount received is appropriate account.