Accountancy, asked by bahetidarshan1234, 5 months ago

Repaid bank loan rupees 5000 and paid interest rupees 500 journal entry

Answers

Answered by hiyasingh668

Answer:

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Explanation:

For the 1st journal entry, the bank received the repayment of loan Rs. 5000. so, Bank A/c increase in the cash balance. For the 2nd journal entry, bank A/C increased, As, cash deposited into the bank.

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