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Query regarding loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 June 2013 if a person does not have an a/c with bank say central bank but he is taking loan from that bank then what will be the journal entry for that?will it be
bank a/c dr
to loan taken
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Ganeshbabu K

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Ganeshbabu K (Expert)
05 June 2013 YES, IT IS,

BANK A/C DR
TO CENTRAL BANK LOAN ACCOUNT
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