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Give journal entry * Started business with cash rs 1000000of which 25% amount borrowed from wife |
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Answer» As a start, your ASSET will increase as WELL as your EQUITY which makes it... Cash 1 000 000 OWNER's Capital 1 000 000 Since, the 25% came from the WIFE and is personal (not necessary to be recorded), it is only recorded as the owner's capital regardless on whom it came from. |
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