Question

Prepare Combine Journal entries from following : (1) Commenced business by taking loan from HDFC bank for 5, 00,000 and furniture 2, 00,000.​

Answer 1

Answer:

please mark as brainlist

Answer 2

combining Journal Entries:

(1) Commenced business by taking loan from HDFC

bank for 5, 00,000 and furniture 2, 00,000.

Date. Accounts. Debit. Credit.

--. Furniture. 2,00,000

Cash/ Bank. 5,00,000

HDFC Bank loan. 5,00,000

Capital A/c. 2,00,000

( being Furniture brought in to business by owners that is goes to capital A/c and liabilities arise by taking loan from bank)