Question

what is the journal entry of rupees 500000 borrowed from a friend by cheque​

Answer 1

Answer:

thodi si confused ho bhai

I am very sorry

Answer 2

Explanation:

The double entry to be recorded by the company is: 1) a debit of $500000 to the company's current asset account Cash for the amount that the bank deposited into the company's checking account, and 2) a credit of $500000 to the company's current liability account Notes Payable (or Loans Payable) for the amount of ...