Loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 October 2013
I HAVE TAKEN LOAN FROM PARTIES IN MY PROPRIETORSHIP FIRM.WHAT WILL BE THE ENTRY AND NARRATION FOR LOAN TAKEN. AFTER 6 month I HAVE CREDITED PARTIES ACCOUNT WITH INTEREST but not paid. What will be the entry and narration for credit of interest . Please reply urgently.
Dintakurthi Tirumala
(Expert)
02 October 2013
At the time of acceptance of loan
Bank/cash a/c dr
to Party a/c
(Being loan taken from XXXX through cheque no)
At the time of crediting of interest
Interest a/c dr
to Party a/c
(Being interest on loan charged and credited to the party a/c)
OM SAI SRI SAI JAI JAI SAI
Bank/cash a/c dr
to Party a/c
(Being loan taken from XXXX through cheque no)
At the time of crediting of interest
Interest a/c dr
to Party a/c
(Being interest on loan charged and credited to the party a/c)
OM SAI SRI SAI JAI JAI SAI
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- 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
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
