Question

vinod took a loan of rupees .1,00,000 from canara bank identify the debtor in the above transaction

Answer 1

Vinod is the Debtor to Canara Bank.

Canara Bank is the Creditor to Vinod.

Accounting Entry in the books of Vinod :

Cash A/C Dr Rs.1,00,000

To Loan from Canara Bank Rs.1,00,000

(Being loan taken from Canara Bank )

Accounting Entry in the books of Canara Bank :

Loan to Vinod A/C Dr Rs.1,00,000

To Cash A/C Rs.1,00,000

(Being Loan given to Vinod)

Answer 2

Hey mate ✌️✌️


Journal Entry ⏬⏬⏬⏬

In the books of Vinod⤵️⤵️⤵️


Cash A/c..........................Dr...100000
..........To Bank A/c...100000


In the books of Bank Account ⤵️⤵️⤵️⤵️

Loan to Vinod..................Dr...100000
............To cash A/c......100000

✨ Hope this helps you ✨