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Loan re-payment from other firm
Dear Experts,
Please help me on following issue:
Loan taken by our ABC firm from NBFC but re-payment of loan done by our other firm XYZ thru. ECS from XYZ firm bank account. (Partners are same in both firms)
Please help me:
1. How accounting entries pass
2. No TDS deduction on Interest on Loan by both firms
Regards,
Jatin
You are requested to how handle this situation:
2.
Replies (1)
Debit loan account and credit XYZ account with loan amount
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