minal (Student CA Final ) (157 Points)
18 June 2016
Senu Reddy
(ca final)
(291 Points)
Replied 18 June 2016
Bank a/c dr
to Bank Loan A/c..
Similarly while repayment its reverse of that entry to the extent of principal amount
Rammi_RP Rawat
(Accountant )
(386 Points)
Replied 18 June 2016
At the time of loan credit entry will be
Dr. Bank A/C .......
Cr. Bank Loan A/C ......
Repayment Entry Will Be.....
Dr. Bank Loan A/C ....
Dr. Interest On Bank Loan...
Cr. Bank A/C.........
Gopi Rajput
(Assistant Accountant)
(31 Points)
Replied 19 June 2016
Jignesh
(Student CA Final )
(40 Points)
Replied 21 June 2016
Hello,
Loan Taken
Bank A/c Dr.
To Bank Loan A/c
(Being Entry for Loan taken & Money received in Bank Account
At the time of Repayment
Bank Loan A/c.(Principal Repayment) Dr.
Interest on Loan Account a/c. Dr.
To Bank Account(Instalment Amount)
(Being Entry for EMi Repayment.)
Zoheb
(Accountant Manager)
(158 Points)
Replied 22 June 2016
| Originally posted by : Gopi Rajput | ||
 |
This is a contra entry. Bank account DR. To loan account. |  |
it is incorrect
Accounting
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