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If the partner’s capital accounts are fixed, where will you record the following item? Interest on drawings

If the partner’s capital accounts are fixed, where will you record the following item?

Interest on drawings

Very Short Answer

If the partner’s capital accounts are fixed, interest on drawings will be recorded on the debit side of the partner’s current accounts.

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Chapter 1: Accounting for Partnership Firms - Fundamentals - VERY SHORT ANSWER QUESTIONS (1 Mark) [Page 1.130]

Chapter 1 Accounting for Partnership Firms - Fundamentals
VERY SHORT ANSWER QUESTIONS (1 Mark) | Q 29. (e) | Page 1.130

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