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How to pass journal entry if company take t he loan from bank?

Updated: 9/17/2023

Wiki User

∙ 11y ago

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debit cash . bank
credit loan from bank

Wiki User

∙ 9y ago

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Wiki User

∙ 11y ago

DR Bank

CR Loan

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Continue Learning about Finance

What will be journal entry if a bank gives loan?

bank a/c dr to bank loan a/c

What is the journal entry when you take out a bank loan?

Debit cash / bankCredit loan from bank

What is the journal entry for proceeds of loan from the bank 200000?

debit cash / bank 200000credit bank loan 200000

What is the journal entry to pay the interest on a loan?

Debit interest on loanCredit cash / bank

When a car loan company go out of business what happens to your loan?

You continue to pay it as normal because your loan is thru a bank not the actual company, if your financing thru there company then you should be going thru a bank now.

Related questions

How do you pass journal entry if company take the loan from bank?

debit cash / bankcredit loan from bank

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

debit bank accountcredit loan from bankwhen interest incurreddebit interest on loancredit loan from bank

What will be journal entry if a bank gives loan?

bank a/c dr to bank loan a/c

What is the journal entry when you take out a bank loan?

Debit cash / bankCredit loan from bank

What will be the journal entry for if bank grand loan to us?

debit cash / bankcredit loan from bank

What is the journal entry for proceeds of loan from the bank 200000?

debit cash / bank 200000credit bank loan 200000

What will be the journal entry if a bank loan is return?

[Debit] Bank Loan account xxxx [credit] Cash / bank xxxx

What is the journal entry to write off a loan to a company?

debit Retained earningscredit loan to company

What is journal entry of bank overdraft?

Debit cash / bankCredit loan from bank / bank overdraft

If a company gives a director a loan of 15000 how do I record a journal entry what accounts is involved?

[Debit] Loan to director 15000 [Credit] Cash / bank 15000

What is the journal entry for a building purchase loan?

[Debit] bank account [Credit] Building loan

Journal Entry for purchase of vechile on loan loan from finance co?

Bank account DR To Loan account

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