journal entry
This query is : Resolved
23 April 2010
x takes loan of rs. 4000 from me. now his interest is rs.1000. now he wants to settle his account. what will be the journal entry for me?
CA Kapil B Gupta
(Expert)
23 April 2010
At the time of Loan Disbursement :
X Debited INR4000.00
Bank Credited INR4000.00
At the time of Interest Accural:
X Debited INR1000.00
Interest on Laon Credited INR1000.00
At the time of Settlement of account:
Bank A/c Debited INR5000.00
X Credited INR5000.00
X Debited INR4000.00
Bank Credited INR4000.00
At the time of Interest Accural:
X Debited INR1000.00
Interest on Laon Credited INR1000.00
At the time of Settlement of account:
Bank A/c Debited INR5000.00
X Credited INR5000.00
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
