Car purchase entry
This query is : Resolved
14 October 2014
Kind Attn : Dear Sir/Mam
Purchased car as follows:
Down Payment - Rs .....
Loan Amount - Rs ......
Now the loan amt includes the Principal and Interest.
My question is, when making an entry the car account will debited with Down payment + Loan amount or
Down payment + Principal Amount (as appearing in the EMI Statement)
Thanks
Gurvinder Singh
Purchased car as follows:
Down Payment - Rs .....
Loan Amount - Rs ......
Now the loan amt includes the Principal and Interest.
My question is, when making an entry the car account will debited with Down payment + Loan amount or
Down payment + Principal Amount (as appearing in the EMI Statement)
Thanks
Gurvinder Singh
14 October 2014
Down payment +loan amount will be considered for car account.
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