Give some example of real,personal & nominal accounts , &
which kind of a/c reflect p&l & BS.
Answer Posted / saf
By cash a/c Dr
To loan a/c Cr
{being loan taken}
This is the correct journal entry for loan
a) Cash comes in, so cash account will be debited.
b) Lender is giver, so his loan account will be credited.
Is This Answer Correct ? | 70 Yes | 14 No |
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