Question

Modi started business with rs.200000,of which he borrowed rs.50000 from a bank. What is the journal entry of this question?

Answer 1

Answer:

Bank A/c. Dr. Rs.200000

Modi,s Capital A/c Cr.Rs.150000

Bank Loan. Cr. Rs. 50000

Answer 2

Answer:

Modi stated business with rs 200000 of which he borrowed rs 50000 from a bank