E.m.i
This query is : Resolved
27 March 2015
dear sir, how to take entry of E.M.I of car ?
please clarify with example.
27 March 2015
Vehicle loan a/c Dr....(Principal portion)
Interest on veh. loan Dr....
To Bank
Interest on veh. loan will be debited in P& L.
CMA Ramesh Krishnan
(Expert)
27 March 2015
Debit: Car loan a/c
Credit: Bank a/c
Create loan account while car purchase and loan taken
Credit: Bank a/c
Create loan account while car purchase and loan taken
CA Ashok Vardhan
(Expert)
28 March 2015
Agreed with Anil
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