When goodwill is not retained in the business, the entries in the new partners books...
FINANCIAL
JAMB 2018
When goodwill is not retained in the business, the entries in the new partners books will be to debit______________
- A. Goodwill account and credit partners capital account
- B. Cash account and credit goodwill account
- C. Goodwill account and credit cash account
- D. Partners capital account and credit goodwill account
Correct Answer: D. Partners capital account and credit goodwill account
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