Took a loan of rs. 20000 from lal hari krishan @18% P.a who give the amount after deducted interest of 6 months. Journal entry?
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Cash/Bank a/c. Dr ₹18,200
To Lal Hari's Loan a/c. ₹18,200
(Being loan received after deducting ₹1,800 as 6 month of interest)
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