Our Firm is a partnership firm with three partners.
We have a paid some of our expenses such as Travel expenses and Electricity through one of our partners Credit Card.
We have paid credit card payment of our partner through our business current account.
How should we put an entry in tally .
Entry shall be,
Expense Account Dr
To Partners Capital Account
And
Partners Capital Account Dr
To Bank Account.
Shyam Joshi & Associates
Pune
B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
