Journal entries

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 March 2013 Sir/madam,

My question is

Bought a vehicle for Rs 60000
Down Payment made to the vendor : 20000
Loan disbursed : 40000

what shall be the entry for the above

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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25 March 2013 Pass the following entry

Vechicle a/c dr 60000
To Cash/bank a/c 20000
To Loan a/c 40000

(Being vehicle purchased for Rs.60000 through invoice no.XXX and the payment made partly by cash/bank vide cheque no.XXX and balance shall be paid through the loan from XXXX by issuing DD no.XXX or cheque)

OM SAI SRI SAI JAI JAI SAI

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