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On 1 January 2020, RAYSUT BANK gives a loan of 130000 OMR to Sohar Company for 3 years. The interest rate is 10 %. The

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On 1 January 2020, RAYSUT BANK gives a loan of 130000 OMR to Sohar Company for 3 years. The interest rate is 10 %. The bank opens an account for the customer and deposits the amount into that account Sohar Company will make repayment as instalments. Which of the following is the journal entry to be recorded on 1 January 2020? Select one: OA. Demand Deposits 90000 Time Deposits 90000 OB. Demand Deposits 1130000 Loans 130000 O c. Loans 130000 Demand Deposits 130000 OD Demand Deposits 13000 13000 Interest Income

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