Question: With the variable capital balances method (method 1) of accounting for partnership equity, the general journal entry to record interest on capital is: Select one:

With the variable capital balances method (method 1) of accounting for partnership equity, the general journal entry to record interest on capital is: Select one: a. DR Profit distribution account; CR Partner's retained earnings accounts. b. DR Profit distribution account; CR Partner's capital accounts. c. DR Profit or loss summary account; CR Partner's retained earnings accounts. d. DR Profit or loss summary account; CR Partner's capital accounts

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