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in Accounting for Retirement and Death of Partner by (63.7k points)
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A, B and C are partners in a firm. A retires on 1st January, 2015. On the date of retirement, Rs 80,000 is due to him in all. It is agreed to pay him this amount in installments every year at the end of the year. Prepare A’s Loan account in the following cases
(i) Four yearly installments plus interest @ 10% p.a.
(ii) Three installments of Rs 25,000 including interest @ 10% p.a. on the outstanding balance and the balance including interest in the fourth year.

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(i)

(ii) A’s Loan Account

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