Jaspal has purchased a car for 500000 which he got financed from a bank to the extent of 400000 how will it be shown in accounting equation
Answers
Answered by
18
Car increase by 5,00,000.
Loan increase by 4,00,000.
Balance 1,00,000 is paid in cash.. hence, bank balance is reduced by 1,00,000.
Loan increase by 4,00,000.
Balance 1,00,000 is paid in cash.. hence, bank balance is reduced by 1,00,000.
Similar questions