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 / krishna chaitanya

bank ac dr
to loan acc



loan ac 1 ac dr
to bank ac

loan ac 2 ac
to bank ac

Is This Answer Correct ?    4 Yes 9 No



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