Loan entry

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 August 2016 Dear Expert,

We have took a unsecured loan from RBL bank, of amount-Rs. 10,00,000/-
Processing and Insurance on loan amount -Rs. 35,242/-
Amount Credit in my Bank Account -Rs.9,64,758/-

My Query is that How pass journal entry (With Group)

Amol S Joglekar

Amol S Joglekar (Expert)
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16 August 2016 01. debit bank 10,00,000
credit loan from RBL 10,00,000

02. Are you sure that due to Processing & Insurance, your loan amount is REDUCED? Are you? Please revert ASAP

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