Mr.B (Wife) purchase house
Mr.A (Husband) loan husband name
now loan pay by husband
how to accounting treatment this transaftion
thank u in advance members
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Accounting
Replies (1)
In the books of Mr.B
House or property a/c-Dr
To Mr.A/c---- cr
In the books of Mr.A
1)Bank A/c Dr
To Loan A/c
2) interest A/c Dr
To Loan A/c
3) Loan A/c
To Bank A/c
4) Mr.B ----A/C
To Purchaser or Supplier A/c
House or property a/c-Dr
To Mr.A/c---- cr
In the books of Mr.A
1)Bank A/c Dr
To Loan A/c
2) interest A/c Dr
To Loan A/c
3) Loan A/c
To Bank A/c
4) Mr.B ----A/C
To Purchaser or Supplier A/c
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