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Subjects>Business>Accounting

How do you pass journal entry if company take t he loan from bank includes interest?

Updated: 9/22/2023

Wiki User

∙ 9y ago

Best Answer

debit bank account
credit loan from bank

when interest incurred

debit interest on loan
credit loan from bank

Wiki User

∙ 9y ago

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Continue Learning about Accounting

What is the journal entry to interest receivable?

debit interest receivablecredit interest income

What is the journal entry for interest on credit?

debit interest receivablecredit interest income

What is the journal entry for interest receivable?

[Debit] Interest Receivable [Credit] Interest Income

What is the journal entry of accrued interest?

[debit] Interest expense [credit]interest payable

What is the journal entry of interest due not paid?

debit interest expensecredit interest payable

Related questions

What is the journal entry to interest receivable?

debit interest receivablecredit 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

What will be the journal entry when interest allowed by the bank?

interest allowed by bank

What is the journal entry for interest receivable?

[Debit] Interest Receivable [Credit] Interest Income

What is the journal entry of accrued interest?

[debit] Interest expense [credit]interest payable

What is the journal entry when a client owes interest?

Debit interest receivableCredit 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 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 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

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