Which books of prime entry recorded capital introduced,loan
Answers
Hello!
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explanation:-⤵
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➡A journal is known as primary book.
➡ Books of Prime Entry are a more efficient variation on double entry accounting.
➡A double entry is made in the general journal, which is posted in the general ledger accounts.
Answer:-⤵
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Loans are recorded in the General Ledger.
for example:- a business obtains a loan from a lender of 10,000 and the amount is paid into the business current account at the bank the journal entry would be.
Loan Capital Journal:-
Account Debit Credit
Bank Current Account 10,000
Loans 10,000
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total 10,000 10,000
This show the cash being received into the bank account, and the liability of the business to the lender.
Thanks!
Answer:
Explanation:
The main books of prime entry are:
Sales day book
Purchase day book
Sales returns day book
Purchases returns day book
Bank Book
Cash Receipts Book
Cash Payments Book
Petty Cash Receipts Book
Petty Cash Payments Book
Journal