Premises purchase
This query is : Resolved
13 January 2017
Dear Experts,
We bought office premises for rs. 1,53,22,000/- down payment paid 53,22,000/- and balance payment by bank loan.
Please suggest how can i pass all necessary journal entries..
Thanks & Regards
We bought office premises for rs. 1,53,22,000/- down payment paid 53,22,000/- and balance payment by bank loan.
Please suggest how can i pass all necessary journal entries..
Thanks & Regards
15 January 2017
At the time of down payment
Dr. Advances 5322000
Cr. Cash/Bank 5322000
At the time of receiving loan
Dr. Bank 10000000
Cr. Loans 10000000
At the time of final payment
Dr. Land 15322000
Cr. Advances 5322000
Cr. Bank 10000000
Dr. Advances 5322000
Cr. Cash/Bank 5322000
At the time of receiving loan
Dr. Bank 10000000
Cr. Loans 10000000
At the time of final payment
Dr. Land 15322000
Cr. Advances 5322000
Cr. Bank 10000000
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