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Commenced bussiness with 200000of which 50000 were borrowed from kumar journal entry |
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Answer» Answer: cash ac dr 200000 to capital ac 150000 to LOAN from kumar ac 50000 Explanation: SINCE both capital and loan constitutes a CREDIT balance, they are entered in credit. And since loan of rs.50000 is CREDITED in KUMARS loan ac,the remaining amount of rs.150000 is credited in the capital ac of the proprietor |
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