Loan entry

Lakshmi (Article) (166 Points)

14 April 2016  
Hello friends Mr. X has taken home loan against his residential flat. As value of flat was increased , he took mortgage loan against same property. Mr X & Mrs. X are joint owner of property. Mrs X is also business women. Mr. X has shown home loan in his books & Mrs.X has shown mortgage loan in her books of a/c. Both emi of loan are being paid via joint a/c of them. How to pass entry of it? Please guide