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E.m.i

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(Querist)
27 March 2015 dear sir, how to take entry of E.M.I of car ? please clarify with example.
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CA ANILKUMAR B.COM FCA DISA

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CA ANILKUMAR B.COM FCA DISA (Querist)
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.
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CMA Ramesh Krishnan

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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
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CA Ashok Vardhan

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CA Ashok Vardhan (Expert)
28 March 2015 Agreed with Anil
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