Ours is a Pvt Ltd Company.
We have heads in Current Liabilities for Directors given loan.
How and in what account the repayment should be done?
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Under which head director loan repayment should be made?
Replies (2)
when you repay the director
debit - director loan a/c
credit - bank a/c
debit - director loan a/c
credit - bank a/c
Debit Bank account and credit Director loan account, Since the director is return the loan payment to the company
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