Loan
This query is : Resolved
02 April 2014
Hi
I would like to know,
How do i treat, If company got loan from outside person.
How do i give entry for that loan?
and How do i give entry for interest on loan?
Plz give me suggestion with examples
i'm waiting for your valuable reply.
Thanks for advance
N.Pragatheeswaran
I would like to know,
How do i treat, If company got loan from outside person.
How do i give entry for that loan?
and How do i give entry for interest on loan?
Plz give me suggestion with examples
i'm waiting for your valuable reply.
Thanks for advance
N.Pragatheeswaran
02 April 2014
a very basic question to ask:
book:
Bank A/c Dr
To Loan A/c
Being loan received
for interest payment
Interest on Loan A/c
To Bank A/c
These are broader entries
book:
Bank A/c Dr
To Loan A/c
Being loan received
for interest payment
Interest on Loan A/c
To Bank A/c
These are broader entries
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