Upon the dissolution of a partnership firm, the amount of a loan taken from a partner by the firm is transferred directly to:
- ABank Account
- BRealisation Account
- CPartner's Current Account
- DLoan from Partner Account
Solution & Step-by-step Explanation
According to Section 48 of the Indian Partnership Act, 1932, debts owed to partners for loans are paid after external liabilities are settled, but before capital balances are distributed. These loans are settled directly through the Bank/Cash account rather than being closed through the Realisation Account.