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Loan taken from Mr.x of rs. 5lakh, journal entry?

Journal Entries
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Question added by Subendu Mardan
Date Posted: 2018/02/13
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SIMRAN JEET SINGH
by SIMRAN JEET SINGH , Asst. Accountant , Patanjali Mega Store

Firm Current Account     Dr.   5,00,000.00  

                                  To Mr. X   Cr. 5,00,000.00

(Being Loan Taken From Mr. X)

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