The accounting entry for cash realized from the sale of assets on the dissolution of a partnership is debit------

The accounting entry for cash realized from the sale of assets on the dissolution of a partnership is cash account; credit realization account. When a partnership is dissolved, the assets of the partnership are sold off, and the proceeds are distributed among the partners according to their share in the partnership. The cash received from the sale of assets is recorded by debiting the cash account. At the same time, a realization account is credited. The realization account is an account used to record the sale of assets and the payment of liabilities during the dissolution of a partnership. The reason why the cash account is debited is that cash is received as a result of the sale of assets, which is an inflow of cash. On the other hand, the realization account is credited because it records the amount realized from the sale of assets during the dissolution of the partnership. Therefore, the accounting entry for cash realized from the sale of assets on the dissolution of a partnership is cash account; credit realization account.