Boss paid $50 out of his pocket cash for a business meal.

Boss has an open loan that he keeps lending the company money.

I want to record the business meal expense but also reduce his loan balance based on his laying ou the cash.

How to journalize this?

For the 1st transaction:
Debit an appropriate Expense account for the amount
Credit Cash for the amount

For the 2nd transaction:
Debit Cash for the amount
Credit the Owners Capital account.

When the owners gets the money back:
Debit the Owners Drawing account for the amount
Credit Cash for the amount