Home
How do you pass journal entry if company take t he loan from bank includes interest?
Wiki User
Answered 2014-11-22 07:01:06
debit bank account
credit loan from bank
when interest incurred
debit interest on loan
credit loan from bank
Your Answer
Still Have Questions?
Related Questions
What is the journal entry to record interest on a loan?
Journal Entry:Interest on loan a/c xxxxLoan a/c xxxx
What will be the journal entry when interest allowed by the bank?
interest allowed by bank
What is the journal entry for parent company paid rent to holding company?
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
What is the journal entry to interest receivable?
debit interest receivablecredit interest income
What is the journal entry of accrued interest?
[debit] Interest expense [credit]interest payable
What is the journal entry for interest receivable?
[Debit] Interest Receivable [Credit] Interest Income
What is the journal entry for interest on credit?
debit interest receivablecredit interest income
What is the journal entry of interest paid?
Debit interest expenseCredit cash
How will you pass journal entry for unexpired interest?
debit unexpired interestcredit interest paid
What journal entry accrues interest expense?
DR - Interest Expense CR - Interest Payable
What is the journal entry for accrued investment interest?
Debit interest receivableCredit interest income
What is the journal entry when a client owes interest?
Debit interest receivableCredit interest income
What is the journal entry for accrued interest receivable?
[Debit] Interest receivable [credit] interest income
What is the journal entry of interest due not paid?
debit interest expensecredit interest payable
What is the journal entry for interest on drawings?
Debit interest on drawingsCredit interest payable / cash
What is the journal entry to record accrued interest income?
debit interest receivablecredit interest income
What is the journal entry for accrued interest income from an investment?
Debit interest receivableCredit interest income
What is the journal entry for accrued for interest on certificate of deposit?
debit interest receivablecredit interest income
What is journal entry for accrued interest on note payable?
[Debit] Interest receivable [Credit] Accrued interest
Who should create the journal entry for interest income?
debit interest receivablecredit interest income
How to record a journal entry in quickbooks?
In Company menu drop down there is Journal entry in list, through that you can record journal entries in quick books.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
What is the journal entry for Interest due but not received?
debit interest receivablecredit interest income
What is the journal entry to pay the interest on a loan?
Debit interest on loanCredit cash / bank
What is the journal entry to record interest expense not yet paid?
debit interest expensescredit interest payable
Still have questions?
