Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 1 - No. 47)
Which of the following accounts are affected when a business receives a bank loan?
Cash and Interest Expense
Bank and Loan Payable
Cash and Loan Receivable
Bank and Loan Receivable
Explanation
The bank account (debit) and loan payable account (credit) are affected.
Comments (0)
