Adjustment entries allowed
Kollipara Sundaraiah (B.com) (2963 Points)
08 February 2021unsecured loan name :Mr.A Rs:4 lacs.
sundry debtors (cash loan) name :Mr.B Rs: 5 lacs.
question:
unsecured loan balance amount(Mr.A) transferred to Sundry debtor(Mr.B) account adjustment accounting entries passed in books allowed in I.t. act.