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{"ops":[{"insert":"Mahesh wants to start his business and for that he decides that he will take loan for\nRupees 7 Lakhs from the Bank of Baroda. He also decides to use his saving worth 3 lakhs\nin the bank account to start the business. Discuss how these two transactions will be\nrecorded in the books of accounts by passing the relevant journal entries? How these\ntransactions will be reflected in the Books of accounts (that\u2019 is in the financial statements)?\nLastly, conclude your answer by stating the applicability of which accounting\nassumption\/s you did the above mentioned accounting treatment\/ recognition and\npresentation in the books of accounts.\n\"PLEASE GIVE ME TWO PAGE ANSWER\"\n"}]}
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