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Accounting Treatment

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M.Sathish Kumar

M.Sathish Kumar (Querist)
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05 April 2008 Hello Sir

One of my client taken a loan from ICICI bank Rs 500000/- but they received only Rs.488000 and odd figures. As I inquired about the difference with my client, he said
its a loan processing fee....

tell me whether it is right or wrong... If so, how should i pass entry for the same...

Its urgent please reply asap

Thanks in advance!!!

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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05 April 2008 It is very simple. Dr loan processing fees/bank charges and credit the amount of Rs. 12000/- to loan a/c

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