On dissolution of the firm amount received from sale of unrecorded asset is credited to ........

On dissolution of the firm, amount received from sale of unrecorded asset is credited to :

Partner’s Capital Accounts

Profit and Loss Account

Realisation Account

Cash Account

- Realisation Account:

- This account is used during firm dissolution to deal with the sale of assets and payment of liabilities.

- Amounts from selling unrecorded assets are usually credited here.

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