Journal entry passed allowed in it act

kollipara sundaraiah ( (2888 Points)

23 March 2023  
it assessess cash loans creditor and debtor outstanding ledger balance show in books as on 31-03-22.
cash loan from creditor rs:15 lacs
cash loan to debtor rs:10 lacs
cash loan to debtor rs:5 lacs
assessess cash loans creditor ledger balance transfer to debtors account journal entry passed in books allowed in it act.