According to Real Account, what will be credited? a. what goes out b. Income & Gain c What comes in a. GIver
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Explanation:
The basic rule Debit what comes in credit what goes out is applicable to
The golden rule for real accounts is: debit what comes in and credit what goes out. In this transaction, cash goes out and the loan is settled. Hence, in the journal entry, the Loan account will be debited and the Bank account will be credited.
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