Loan
This query is : Resolved
24 February 2013
1.Loan taken from bank we have to pass journal entry or contra entry?
2.Loan taken from bank Rs.100000/-in that Rs.50000/- paid to bank for loan repayment how to pass the entry in tally ?
2.Loan taken from bank Rs.100000/-in that Rs.50000/- paid to bank for loan repayment how to pass the entry in tally ?
24 February 2013
Hi
In loan taken you have to pass it through Contra
For loan received:
Dr. Bank A/c Rs. 100000
...Cr. Loan from Bank A/c.. Rs. 100000
For loan repaid:
Dr. Loan from Bank A/c Rs. 50000
...Cr. Bank A/c.. Rs. 50000.
Thanks!!
In loan taken you have to pass it through Contra
For loan received:
Dr. Bank A/c Rs. 100000
...Cr. Loan from Bank A/c.. Rs. 100000
For loan repaid:
Dr. Loan from Bank A/c Rs. 50000
...Cr. Bank A/c.. Rs. 50000.
Thanks!!
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