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Patners current account may have debit or credit balance |
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Answer» Answer: Normally Partner's Current Account has a Credit BALANCE but, if a partner has withdrawn more than his or her share of profits, then it will have a Debit Balance. The credit balances of Partner's Current Account are SHOWN on the LIABILITIES Side of Balance Sheet, as much of amount due to them..I HOPE it helps u ✌️ |
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