Journal entry
This query is : Resolved
15 June 2013
The Partners of the firm purchased a property of Rs. 2.0 Crore.The bank gave a total loan of Rs.2.5 Crore[50 lac as top up to the firm].Now the installment of loan comes out be Rs.361855/- which is debited from firms account totaly.Please guide me how to pass the entry while paying the EMI.
15 June 2013
loan a/c dr
intt. on term loan a/c
to bank a/c (from bank take loan intl.)
intt. on term loan a/c
to bank a/c (from bank take loan intl.)
15 June 2013
But Sir Partners are also involved in the loan. 75% of loan amount is being used by the partners and 25% by the firm itself
15 June 2013
pls recover intt. amount and instalment amot form partners
loan a/c (firm share)
intt a/c (firm share)
partner a/c( innt+ instt)
to bank
loan a/c (firm share)
intt a/c (firm share)
partner a/c( innt+ instt)
to bank
15 June 2013
thanks sir
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