In our Pvt Ltd co. Husband and Wife are Directors and both have given loan to company on the death of Wife, loan of Wife transferred to husband in co. books
what entry to be done in the books of directors please explain with heads
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Transfer of Loan on Death of Director
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Wife account is debited and Husband Account is credited, by this Loan Liability in case Husband is increased and Wife account is closed.
Experts please revert
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