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View Full Version : Term loan Reimbursement


Bommidalapr_12
Mar 4, 2009, 08:26 AM
I have availed term loan from my bank . Before the sanction of the loan ,I purchased the machinery with my money. Now the bank will reimburse me the money spent to purchase the machinery. What are the journal entries for the transaction?

codyman144
Mar 4, 2009, 08:56 AM
Is this a homework/test question because it is strangely similar to another question posted this morning.