Accountancy, asked by mahakagrawal250203, 10 months ago

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

Answers

Answered by dphilip
1

Answer:

thodi si confused ho bhai

I am very sorry

Answered by ankitraj829467
1

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 ...

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