12 :- Atul, Jetha, and Tarak are partners sharing profits equally. Jetha was given a loan by the firm on 1st July, 2024 of Rs 6,00,000. Books are closed on 31st March, What Journal entries will be passed if
(a) Rate of Interest is not agreed; and
(b) Rate of interest to be charged is agreed @ 10% p.a.?
Solution :- (a) No interest on loan given to partner will be charged.
(b)
