You give a loan for your friend a 1000 rs he returns 600 rs
and u have to close ur accounts what should u do to close
the accounts? and given the journal entry for 400 rs?and
where will the 400 rs come in new account and entry for that

Answer Posted / anjali

entry will be.....

loan a/c dr 1000
to cash a/c 600
to bad debt a/c 400

Is This Answer Correct ?    10 Yes 7 No



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