Accounting entry for dissolution expenses is
...Accounting entry for dissolution expenses is
Dr : Partnership account ;Cr: Realization account
Dr: Revaluation account; Cr: Partnership account
Dr: Realization account; Cr: Cash account
Dr: Partners current account; Cr: Realization account
Correct answer is C
When dissolution expenses are paid, the Realization account is debited because it represents the expenses related to the dissolution of the partnership. The Cash account is credited because cash is going out of the business to pay for these expenses. Hence, the correct accounting entry is 'Dr: Realization account; Cr: Cash account'.
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