Risk Manager
2345 Points
Posted on 31 March 2017
| Originally posted by : Girish Suryawanshi |
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We have Rs 10 lakh term loan in FY 2015-16 EMI 29000 in FY 2015-16 we repaid 4 EMI (29000*4) now i want to know how i post in balance sheet please let me know. |
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Hi,
Loan outstanding to be shown as liability, interest part of EMi to be booked as expense in P & L.
Interest on Loan Dr. (Interest amount)
Loan Account Dr. (Principal part)
To Bank Account Rs. 29000