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This query is : Resolved 

23 November 2010 if i want to purchase fixed assets by taking loan from bank, can you please furnish me journal entries from purchase to payment and their effect in b/s?

23 November 2010 fixed asset Dr
bank loan Cr.

loan will be on the liability side and asset will be on the asset side.

23 November 2010 JV

Furniture ( Asset) Dr

To Bank loan

Asset Liabilities

Furniture Bank Loan


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