This question was asked in Type of Accounting Vouchers or Entries in Tally
Sir hame 500000 loan diya hai kisi person ko interest 5% par entry kya hogi
Answers!
Suppose Loan given to A
Entry for Loan Given
A 500000
TO BANK 500000
(A is under loans and advances asset)
ENTRY FOR INTEREST INCOME
A 25000
TO INTEREST INCOME 25000
ENTRY FOR LOAN RECEIVED BACK
BANK 525000
TO A 525000
Learn more here
https://www.teachoo.com/824/251/Entries-for-Loan-Given/category/Fixed-Deposit-and-Interest-Entries/
Comment
Answer the question...
Suppose Loan given to A
Entry for Loan Given
A 500000
TO BANK 500000
(A is under loans and advances asset)
ENTRY FOR INTEREST INCOME
A 25000
TO INTEREST INCOME 25000
ENTRY FOR LOAN RECEIVED BACK
BANK 525000
TO A 525000
Learn more here
https://www.teachoo.com/824/251/Entries-for-Loan-Given/category/Fixed-Deposit-and-Interest-Entries/
Comment