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How to pass entry in tally
Arun purchase a second hand motor car ₹.500000 from Sudheer.Sundaram finance given finance ₹ 500000+ with interest ₹106241= ₹606241.EMI paid to Sundaram finance ₹ 16841 .Balance amount paid at 36 month equal installments of ₹16840,= ₹606240.These entries how to pass in tally.
Replies (8)
You can pass following entries:
Entry for purchase of Car for Rs. 500000
Dr. Car
Cr. Sudheer
Entry for payment to Sudheer for Rs. 500000
Dr. Sudheer
Cr. Sundaram Finance
Monthly Entry for EMI paid to Sundaram Finance
Dr. Sundaram Finance (Loan Principal Amt)
Dr. Interest paid to Sundaram Finance (Int. Amt)
Cr. Bank A/c (Amt 16841)
Entry for purchase of Car for Rs. 500000
Dr. Car
Cr. Sudheer
Entry for payment to Sudheer for Rs. 500000
Dr. Sudheer
Cr. Sundaram Finance
Monthly Entry for EMI paid to Sundaram Finance
Dr. Sundaram Finance (Loan Principal Amt)
Dr. Interest paid to Sundaram Finance (Int. Amt)
Cr. Bank A/c (Amt 16841)
thank you and congratulations......
These entries are pass in Accounting Vouchers or Journal Vouchers?
I think first two entery will be Accounting and last one is journal...
These all entries are pass in Journal Vouchers the accounts and balance shows correctly.
first two journal.... last one payment voucher.....
Agree with Mr Shailendra
thank you and congratulations
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