The correct answer is B. Credited to the Current Account of Partner X.
A partnership deed is a legal document that outlines the terms of a partnership between two or more people. It typically includes information such as the names of the partners, the purpose of the partnership, the contributions of each partner, and the division of profits and losses.
In the case of a partnership deed that provides for a salary of Rs. 7,000 per month to partner X, the salary would be credited to Partner X’s current account. This is because the current account is a type of account that is used to track the income and expenses of a partner. The salary would be recorded as an income for Partner X, and it would be credited to his or her current account.
The other options are incorrect for the following reasons:
- Option A is incorrect because the salary is not an expense of the partnership. It is an income for Partner X.
- Option C is incorrect because the salary is not a liability of the partnership. It is an asset of Partner X.
- Option D is incorrect because the salary is not a capital contribution from Partner X. It is an income for Partner X.