Journal entry passed allowed in it act

kollipara sundaraiah (B.com) (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
question:
assessess cash loans creditor ledger balance transfer to debtors account journal entry passed in books allowed in it act.