The accounting entry for cash realized from the sale of assets on the dissolution of…

Accounts - Principles of Accounts WAEC 2018

The accounting entry for cash realized from the sale of assets on the dissolution of a partnership is debit——

  • cash account, credit partners capital account
  • asset account; credit cash account
  • cash account; credit realization account checkmark
  • realization account; credit cash account

The correct answer is: C

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