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How to make joint loan taken journal entry in books of accounts

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Daya (Querist)
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12 September 2025 How to make joint loan taken journal entry in books of accounts against mortgage.
seprately in books of accounts.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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12 September 2025 Both parties must maintain separate Mortgage Loan accounts and record only their shares.

When the amount is received from the bank as a joint loan:
In both (or each) party’s books:
Debit: Bank Account (for the share received)
Credit: Loan (Mortgage Loan) Account (for the same amount)

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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19 September 2025 Good Luck...

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