Accountancy, asked by vedanshgupta21, 10 months ago

The journal entry of 'loan taken from bank' is

sol= bank a/c ...dr
To bank loan a/c

So my question is
why is bank debited???
and bank loan credited???



plss help me...​

Answers

Answered by samriddhii
1

As per the rule of debit the receiver means bank and credit the giver means loan. Afterwards taking the loan we have to repay it. That's why bank will be debited and loan will be credited.

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