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What Journal entry will a bank pass in its books when it gives loan to a customer?

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note... please show the Journal entry for giving a loan of 10k at 10% in banks book for 2 years annual interest.
Also shaw the same Journal entries in Borrowers book... i e jornal entries if a shopkeeper takes this loan what entry will he pass in the boooks of record of his shop.. .. pls help in detail.

Banks in Grants Pass, OR

AmericanWest Bank in Grants Pass, OR
1689 Williams Hwy, Grants Pass, OR 97527
Umpqua Bank in Grants Pass, OR
117 NE F Street, Grants Pass, OR 97526

Answer (1):

khayum p

Debit loan head Sat business loan A/C No. .10000
Credit borrowers account Mr A.s account 10000
(loan granted to Mr.A @ 10% interest tenure 2 years.)

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