Question

Neeraj norrowed from his friend kapil Manchanda r.s-50,000and introduced it in the business.​

Answer 1

Answer :

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Journal Entry  :-

• Loan Ac Dr....Rs 50000

            To, Capital Ac Cr....Rs 50000

( Being money borrowed from kapil and invested in business )

Here,

money was borrowed from friend kapil and macchindra ,

therefore DEBIT GOES TO LOAN.

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