Pass Journal entries for the following:

  • Realisation expenses of ₹ 10,000 were to be borne by Mohan, a partner, but were paid by the firm.
  • Mahesh, a partner, was paid remuneration of ₹ 25,000 and he was to meet all expenses.
  • Suresh, a partner, was paid remuneration of ₹ 20,000 and he was to meet all expenses. Firm paid an expense of ₹ 5,000.

Solution :