Entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2014
We have taken a term loan from bank. the bankers are debiting monthly the interest amount in the term loan. We are paying the interest from our current account. Kindly give us the entries to be passed in term loan account and current account.
06 August 2014
Entry when u repay loan n int
loan a/c....dr
int on loan a/c.....dr
to bank a/c
Entry when u repay loan n int
loan a/c....dr
int on loan a/c.....dr
to bank a/c
06 August 2014
ON EXP.
INTEREST ON TERM
TO TERM LOAN A/C
ON PAYMENT
TERM LOAN A/C
TO BANK A/C (C/C A/C)
INTEREST ON TERM
TO TERM LOAN A/C
ON PAYMENT
TERM LOAN A/C
TO BANK A/C (C/C A/C)
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