Loan

This query is : Resolved

pragatheeswaran (Querist)
Follow

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

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok