Question

Borrowed rs 80000 from kamya’s father in law kapil kumar at 10% interest. (Journal entery )

Answer 1

Answer:

cash a/c  Dr   80000

 to kamya's father loan a/c     80000

 

at the time of repayment of loan :--------

   kamya's father loan a/c       Dr     80000

  interest  a/c                          Dr       8000

            To cash a/c                                      88000