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Give some example of real,personal & nominal accounts , &
which kind of a/c reflect p&l & BS.
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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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A----------involves transfer of money or moneys worth from one person to another
