A loan of $300 000 is received from ABC Bank during my financial year. During the year interest and payments worth $50 000, is recorded and my loan amount at the end of my financial year amounts to $250 000. In the next financial year, my businesss plans to decrease my loan capital by $50 000. What effect does this have on my "debit" account (bank account).
Oct 1st 2020
what happens to bank when loan is decreased
What happens to bank when my loan capital is decreased in the next financial year
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