Question

Which of the following accounts could be found in the PQ partnership's general ledger?I. Due from PII. P, DrawingIII. Loan Payable to Q A. I, IIB. I, IIIC. II, IIID. I, II, and III

Answer 1

Answer:

D. I, II, and III

Explanation:

In partnership general ledger, the following accounts need to be considered which is shown below:

1. Capital account

2. Drawing account

3. Loan payable account

4. Interest on capital account

5. Interest on drawing account

In the question, the choices are provided. By going through the choices, option D is correct which includes all three accounts.  

So, options A, B, and C are incorrect.