Plzzz help me its very very ver urgent vehicle purchased....

MJDF13

1) vehicle purchased

Vehicle A/c                    Dr.              96000   ---------

       To Bank A/c (Down Payment)                20000

       To Bank Loan A/c                                    76000

2) depreciation Every month

Depreciation A/c           Dr.      24000      -----

       To Vehicle A/c                               24000

3) loan A/c Payment of Instalments

Bank Loan A/c              Dr.          xxxx     ---------

Interest A/c                   Dr.            xxxx   ---------

        To Bank A/c                                    2800

4) supplier a/c from where vehicle purchased

No account of supplier because the whole sum has been paid by way of down payment and bank loan.

Regards

Accounting Entries

1) Vehicle purchased from XYZ ltd

Vehicle purchased A/c Dr.

    To XYZ Ltd  A/c

2) Down Payment

XYZ Ltd A/c   Dr.

  To Cash/ Bank A/c

3) Payment made by bank directly -

XYZ Ltd  A/c Dr.

  To Bank Loan A/c

4) Repayment of Bank Loan

 Bank Loan A/c (Priciple amt) Dr.

Interest A/c Dr.

   To Bank / Cash A/c

5) Depreciation -

Depreciation A/c Dr.

   To Vehicle A/c

Dear Mr. Prakash

your accounting journal entries are ok, but that is not a proper way, as per Mr.Moyyad he suggest it better than you so i agree with Mr. Moyyad.

Regards,

Bablu Kumar Jha.