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Payment by other bank account
Dear Sir / Madam
i have query about In proprietorship firm some payment to creditor makes by proprietor's husband bank account. in this case i should shown the loan from her husband how will i account this
Replies (1)
Debit creditors account with the amount paid and Credit proprietor's husband's personal account. You should show the same as unsecured interest free loan received. Even you can execute a loan agreement on non judicial stamp to support the validity of the transaction.
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