Intial investment - Omar contributes accounts receivalbel that had a balance of 22500 of this 2000 is worthless remainng accounts the partnership will establish provision future incollectible accouts 1500. The amount debited to accounts receuvable for the new partnership is?
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
Intial investment - Omar contributes accounts receivalbel that had a balance of 22500 of this 2000 is worthless remainng accounts the
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