please provide an accounting entry for the following transaction: 1. A loan from a third party is deposited in the company account amounting to AED 1,000,000. AED 300,000 part of the loan will be allocated to the initial capital

please provide an accounting entry for the following transaction: 1. A loan from a third party is deposited in the company account amounting to AED 1,000,000. AED 300,000 part of the loan will be allocated to the initial capital

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

please provide an accounting entry for the following transaction: 1. A loan from a third
party is deposited in the company account amounting to AED 1,000,000. AED 300,000 part of
the loan will be allocated to the initial capital

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