Asha and Vipasha are equal partners with fixed capitals of Rs. 5,00,000 and Rs. 2,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 6% per annum instead of 5% per annum. In the adjusting entry

Asha and Vipasha are equal partners with fixed capitals of Rs. 5,00,000 and Rs. 2,00,000, respectively. After closing the accounts for the year ending 31st March 2019, it was discovered that the interest on capitals was provided @ 6% per annum instead of 5% per annum. In the adjusting entry Correct Answer Asha will be debited with Rs. 1,500 and Vipasha will be credited with Rs. 1,500

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