Question

Transaction: Took loan ₹10,000 from bank (cash received). Correct entry is:

• A. Bank A/c Dr 10,000; Loan A/c Cr 10,000
• B. Cash A/c Dr 10,000; Loan A/c Cr 10,000
• C. Cash A/c Dr 10,000; Bank A/c Cr 10,000
• D. Loan A/c Dr 10,000; Cash A/c Cr 10,000

Answer 1

Answer:

B. Cash A/c Dr 10,000; Loan A/c Cr 10,000

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