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Querist : Anonymous

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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.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
06 August 2014
Entry when u repay loan n int

loan a/c....dr
int on loan a/c.....dr
to bank a/c
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Rupesh Jain

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Rupesh Jain (Expert)
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)
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