loan taken from bank for business use rs. 60000. accounting equation
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Accounting equation
Asset = capital + liabilities
as per question solution is
Increase in cash or bank (asset) by 60000
Increase in bank loan (liability ) by 60000
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Reason
As bank loan received from bank , cash or bank is get affected , therefore its increase
simultaneously in liability side bank loan is increased , as in future we need to repay to bank
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