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The cash realized from the sale of asset on dissolution of partnership is

The cash realized from the sale of asset on dissolution of partnership is
  • A.
    debited to cash account and credit to asset account
  • B.
    credited to cash account and debited to asset account
  • C.
    debited to cash account and credited realisation account and credited to realisation account
  • D.
    credited to cash account and debited to realisation account
  • E.
    debited to realisation account abnd credited to asset account
Correct Answer: Option C
Explanation