Question

Proprietor borrowed money from bank for his business; this transaction involves which one of the following accounts?
(1 Point)
(a) Cash & Bank Loan
(b) Drawings & Bank Loan
Bank & Bank Loan
(d) Cash & Bank​

Answer 1

Answer:

c

Explanation:

The proprietor has borrowed money for the business, Bank will give the amount of loan in his bank account, thus Bank balance will increase.

Bank A/c Dr.

To Bank Loan A/c