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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!

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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