26 July 2011
sir i have purchase a bike.it was financed by hdfc bank but problem is that bike has been purchase in 2009 and financed in 2010 then what entry will be made payment of bike loan installment
26 July 2011
When you purchased a bike Make a entry of By debiting Asset Account & credit to Dealer A/c and when HDFC disbursed the loan Debit Dealer Account & Credit to HDFC Loan Account.
CAclubindia
