Loan taken for car Loan
This query is : Resolved
15 March 2025
Loan token for car loan how to bifurcate it
means Principal amount equal to loan amount and interest amount charged to profit and loss account.
means Principal amount equal to loan amount and interest amount charged to profit and loss account.
12 August 2025
Loan taken: Debit Bank, Credit Loan.
Purchase of car: Debit Fixed Asset, Credit Bank/Vendor.
EMI payment: Debit Loan (principal), Debit Interest Expense, Credit Bank.
Purchase of car: Debit Fixed Asset, Credit Bank/Vendor.
EMI payment: Debit Loan (principal), Debit Interest Expense, Credit Bank.
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