Loan from Bank (against the securityofPlant and Machinery)
Plant and Machinery
Loan from Mrs. L (with on charge on stock)
Loan from L
Advance to 1
Profit and Loss Account (Dr. Balance)
Plant and Machinery, Debtors and stock realised 70%. Prepare the necessary ledger accounts (including loan from Mrs. L Account and Trade Creditors’ Account, after considering the position of partners as follows:
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