journal entry to write off a loan
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
Journal Entry:Interest on loan a/c xxxxLoan a/c xxxx
Loan from ragu A/c dr cash
Debit cash / bankCredit loan from bank
debit cash / bankcredit loan from bank
debit Retained earningscredit loan to company
bank a/c dr to bank loan a/c
[Debit] bank account [Credit] Building loan
Bank account DR To Loan account
debit cash / bankcredit loan from bank
Debit cash / bankCredit unsecured loan
debit cash / bank 200000credit bank loan 200000