What do I consider this transaction?

Hello sir

My Friend bought a mobile for himself. but he paid amount it from my personal bank account. Later he also returned that amount in my same bank.

how do I make this entry in my books now ?
Replies (2)
Quick Summary
A user is unsure how to record a transaction where a friend bought a mobile using their personal bank account, and the friend later repaid the amount. The advice given is to treat this as a temporary loan or an advance. This involves debiting a loan account and crediting the bank account when the money is paid out, and then debiting the bank account and crediting the loan account when the friend repays the money.

It's very simple .
a temporary loan account in your books or treat it as advance Dr. cr. cash .
Square off when the same has been returned.
Loan Account Dr
Bank Account Cr

on Returnment Date

Bank Account Dr
Loan Account Cr

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