Vehicle Loan
Querist : Anonymous
We have purchased a vehicle for office use i want to know what is the entries ihave to pass in tally9.
first payment 235964/-
installment 16029/-
amount financed 443040/-
36 installments
thanks in advance.
TO BANK/CASH CR.235964
TO BANK CAR LOAN A/C CR. 443040
AFTERWARD , YOU HAVE TO MADE ENTRY MONTLY FOR INSTALMENT
BANK CAR LOAN A/C DR (PRINCIPAL AMOUNT)
INTEREST ON AUTOLOAN DR (INTEREST IN INSTALMENT)
TO BANK A/C CR. INSTALMENT AMT (16029)
Querist : Anonymous
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