Hello,
I am trying to record the journal entries for taking a loan
and refinancing it into two new loans. How would I show the
closing loan and the opening of two new loans?
Thank you for your help!
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Answer Posted / anjana
bank a/c dr
To loan a/c
Loan a/c dr
To new loan 1
Loan a/c dr
To new loan 2
| Is This Answer Correct ? | 8 Yes | 8 No |
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