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How do we post the top up loan? What is the Journal entry? Please advice?

Major Accounts
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Question added by manjusha sajith , Accountant
Date Posted: 2015/12/06
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Fazal Rabi Rabi
by Fazal Rabi Rabi , Manager accounts

Debit the cash or bank a/c

credit the loan payable acoount

The loan is liability of the business there show on the balance sheet on liabilities side

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