What is the journal entri for rec. loan from director
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Accounting entries
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ur query '
loss in transit a/c dr (total loss-insurance claim)
insurance cliam recivable a/c dr (insurance claim)
to trading a/c (total loss)
p& l a/c dr
to loss in transit a/c(total loss-insurance claim)
bank/cash a/c dr
to insurance claim recivable (when claim received)
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