Answer:
see below
Explanation:
This transaction will increase both assets and liabilities of URSZINOT. It will increase cash at the bank (asset account) by $170,000 and increase accounts payable (liabilities) by $170,000. An increase in liabilities credited while an increase in assets is debited.
The journal entry will be
Bank A/c Dr. $170,000
Account Payable( loan) C/r. $170,000
