Where will you show balance of accounts like bad debts reserve and discount reserve on debtors at the time of retirement of a partner ?(A) On the debit side of profit and loss account(B) Liability side of the balance sheet(C) Credit side of profit and loss adjustment account(D) Assets side of the balance sheet

Where will you show balance of accounts like bad debts reserve and dis

1.	Where will you show balance of accounts like bad debts reserve and discount reserve on debtors at the time of retirement of a partner ?(A) On the debit side of profit and loss account(B) Liability side of the balance sheet(C) Credit side of profit and loss adjustment account(D) Assets side of the balance sheet
Answer» Correct option is (D) Assets side of the balance sheet