borrowed loan from kumar journal entry for this
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borrowed loan from kumar journal entry for this
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Answer:
Bank a/c Dr
To Loan from Kumar a/c
Explanation:
Bank (Real account) is debited as cash is received (Debit what comes in, Credit what goes out) and Loan from kumar (Personal account) is credited as a liability arises to the same extent (Debit the receiver, Credit the giver)