Record 848 loan from the bank evidenced by a shortterm noteS

Record $848 loan from the bank evidenced by a short-term note.

Solution

Journal entry :

Date accounts & explanation debit credit
Cash a/c 848
    Bank Loan 848
(To record Loan from bank)
Record $848 loan from the bank evidenced by a short-term note.SolutionJournal entry : Date accounts & explanation debit credit Cash a/c 848 Bank Loan 848 (T

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