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Accounting entries for credit card transactions
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Post Entry for loan Received
Dr. Bank A/c .......Xxxx
Cr. Credit Card Loan A/c .......Xxxx
(Narration :- .........................................)
Post at the time of payment
Dr. Credit Card Loan A/c........Xxxx
Dr. Interest on Loan ...............Xxxx
Cr. Credit Card (Current liabilities) .......Xxxxx
(Narration ..............................................................)
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