Can we pay office rent or godown rent through unsecured loan in compay?or Can we show entry in tally rent paid by unsecured loan (like A our unsecured loan person then entry is
Rent a/c dr
to A (unsecured loan) a/c
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Rent paid by unsecured loan
Replies (1)
If u take unsecured loan from someone, entry will be Bank/cash Dr
To Lender (Unsecured loan) a/c
If u r paying, rent through funds of Unsecured loan or ur own funds or anything, the entry should be Rent a/c Dr
To Bank/cash
The entry which u have mentioned imply that u r supposed to pay Rent to the person who gave u Unsecured loan and ur liability is increasing
Feel free to ask if u need further assistance
To Lender (Unsecured loan) a/c
If u r paying, rent through funds of Unsecured loan or ur own funds or anything, the entry should be Rent a/c Dr
To Bank/cash
The entry which u have mentioned imply that u r supposed to pay Rent to the person who gave u Unsecured loan and ur liability is increasing
Feel free to ask if u need further assistance
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