question_answer

A and B are partners sharing Profits in the ratio of 3;2 with fixed capitals Rs.4,00,000 and Rs.3,00,000 respectively. After closing the accounts for the year ending 31st March, 2021, it was discovered that interest on capitals was provided @ 10 % p.a. instead of 8 % p.a. In the adjusting entry B's Current Account will be:

A) Credited with 400

B) Debited with 400

C) Debited with 6,000

D) Credited with 6,000