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(Querist)
22 August 2018 what is the journal entry for commenced a business by debt from outside party?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
22 August 2018 Cash or Bank dr
To unsecured loan Cr

If liability is taken over by Partners in case of Firm

Dr Unsecured Loans
Cr Capital A/c

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