Question

loan taken from bank by mortgaging building rupees 60000 journal entry​

Answer 1

Answer:

Cash A/c. Dr

to loan from Bank A/c

( Being loan taken from bank )

Explain:-

1) By takeing Loan A you get Cash Therefore cash A/c is debited

2) Loan is an l liability for a person who taken

3) The rule for Cash A/c Debited is

Cash always have debit balance and if it receive then debit

4) The rule for Loan From bank Credit

cause loan is an libility and liability always have Credit balance

Answer 2

Answer:

Cash a/c dr

To bank a/c (journal entry)