120k views
21 votes
F brown lent us 4000 giving us the money by cheque​

User Temur
by
4.1k points

1 Answer

3 votes

Answer:

See below

Step-by-step explanation:

This transaction is affecting the bank's balance and F brown accounts. It is increasing the bank balance( asset account) by 4000 and increasing accounts payable/F brown ( liabilities account) by 4000.

An increase in assets is debited while an increase in liabilities is credited.

The journal entry will be

Bank A/c Dr. 4000

F brown A/c 4000

User Cojack
by
3.7k points