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Question
C’s Capital Account has a credit balance of ₹ 2,00,000; C’s Loan Account is showing a debit balance of ₹ 40,000. Bank Balance is ₹ 3,00,000. Show the treatment of C’s Loan A/c.
Journal Entry
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Solution
| Journal entry |
||||
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| C’s Capital A/c ...Dr. | 40,000 | - | ||
| To C’s Loan A/c | - | 40,000 | ||
| (Being Loan transferred to C’s Capital A/c) | ||||
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