Accounting entry for un secured loans from different persons

Tax Benefits on Business Loan – At a Glance. Business loan interest amount is tax exempted; Principal loan amount is not tax deductible and do not offer any tax benefit; The interest paid on a business loan is usually deducted from the gross income; Personal loan taken for business purposes is also tax deductible; Helps in the reduction of total tax amount to be paid

Bank a/c 3,80,000

To unsecured creditor 1a/c 19000

To unsecured creditor 2 a/c 19000

.

.

To unsecured creditor 3 a/c 19000

Then financial liabilities are measured at amortised cost. 

I dont know the tax exemption entries for principle, but normal repayment will be

By Unsecured creditor 19000

By interest 1000

To bank 20000

and you will calculate corporate taxes accordingly