Question

Journal entry of borrowed from Haryana financial cooperation​

Answer 1

Answer:

Cash/Bank A/c Dr.

       to Haryana financial cooperation​ A/c

Explanation:

Answer 2

Answer:

whenever loan is taken from the bank by an business enterprise…org. Incurs liability to pay the loan amount…and org. Receives sum of amount.

As per the rules

Debit the receiver

Credit the giver

Here bank is giver

Bank loan would be credited.

Debit what comes in and credit what goes out

Org. Is receiving money

Cash or bank would be debited

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