In a partnership, each partner has a capital account as well as a current account. What is the correct accounting entry to record interest on capital for partner X?
- Aappropriation account to be debited; X’s capital account to be credited
- Bappropriation account to be debited; X’s current account to be credited
- CX’s capital account to be debited; appropriation account to be credited
- DX’s current account to be debited; appropriation account to be credited