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Loan is on balance sheet
Loan account is the most important account in the bank's Balance sheet.
The lender is "carrying" the loan on its Balance Sheet
yes
It is posted in long term loan and adv.
Cash is added as asset and amount of loan is recored as a liability.
Debit cash / bankCredit unsecured loan
Yes accrual are part of balance sheet as accruals deals with future activities and all future actives are dealt by balance sheet.
loans payable apear under liability on the balance sheet.
Profit and Loss.
Loan repayment will reduce the amount of loan liability from liability side of balance sheet as well as reduce the cash or bank account as the payment is made through bank or cash. General entry is as follows [Debit] Long-term loan xxxx [Credit] cash / bank xxxx
I think it would go under your liabilites..