**Journal Entry for Lending Rs 180,000 to Sanjit**

When you lend money to someone, it is important to keep a record of the transaction in your accounting books. This helps in maintaining accurate financial records and tracking the amount of money owed to you. In this case, let's assume you lent Rs 180,000 to Sanjit. Here's how you would journalize this transaction:

**1. Identify the Accounts Involved:**

In this transaction, there are two accounts involved:

- **Lent Amount Account**: This account represents the money you lent to Sanjit. It is an asset account and will be debited.
- **Sanjit's Account**: This account represents the liability of Sanjit towards you. It is a personal account and will be credited.

**2. Determine the Amounts:**

The amount lent to Sanjit is Rs 180,000. This amount will be recorded in both the accounts.

**3. Journal Entry:**

Based on the accounts involved and the amounts, the journal entry for lending Rs 180,000 to Sanjit would be as follows:

| Date | Account | Debit (Rs) | Credit (Rs) |
|------------|------------------------|------------|-------------|
| [Current Date] | Lent Amount Account | 180,000 | |
| | Sanjit's Account | | 180,000 |

**4. Explanation:**

- By debiting the "Lent Amount Account" with Rs 180,000, you are recording the increase in the amount you have lent to Sanjit. This account will show the outstanding amount owed by Sanjit to you.
- By crediting "Sanjit's Account" with Rs 180,000, you are acknowledging the liability of Sanjit towards you. This account will reflect the amount he owes to you.

**5. Reference and Record Keeping:**

For future reference, it is advisable to assign a unique identification number or reference to this transaction. This will help in tracking the transaction easily. Additionally, make sure to record this transaction in a ledger or accounting software for proper record keeping.

Remember, accurate and timely recording of financial transactions ensures transparent and reliable financial reporting.

Sanjit A/C. dr. To cash A/C