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Loan amt payment

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Fakher Alam

Fakher Alam (Querist)
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31 May 2016 Mr. A taken a loan of rs 200000 Mr.b paid the loan amountof mr a by depositing cash in mr a loan account Then how to pass entry in both account a and b Pls help me

CA Rohit Jain

CA Rohit Jain (Expert)
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31 May 2016 debit loan account credit Mr B's account

Fakher Alam

Fakher Alam (Querist)
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31 May 2016 Sir how to close loan a/c ledger

CA Rohit Jain

CA Rohit Jain (Expert)
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31 May 2016 By debiting loan account you are automatically closing loan account

Fakher Alam

Fakher Alam (Querist)
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02 September 2016 but a/c b will be stand another loan a/c

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