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Journal Entry for bank loan of $ 10,000 taken by business is Bank Loan account Debit and Cash a/c credit Cash a/c debit and
Journal Entry for bank loan of $ 10,000 taken by business is Bank Loan account Debit and Cash a/c credit Cash a/c debit and bank loan a/c credit cash a/c debit and owner's equity credit not accounted as the cash is not related to business.
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Answer b Since the loan is taken and cash is received a journal must be made Cash is debit becau...
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Fundamentals of corporate finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
9th edition
978-0077459451, 77459458, 978-1259027628, 1259027627, 978-0073382395
