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How do you made a journal entry for loan repayment schedule?

Updated: 4/28/2022

Wiki User

∙ 9y ago

Best Answer

There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.

Wiki User

∙ 9y ago

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Continue Learning about Accounting

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debit cash / bankcredit loan from bank

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[Debit] bank account [Credit] Building loan

What is the journal entry to record loan received?

debit cash /bankcredit loan payable

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debit cash / bankcredit loan from krishna

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Debit Loan account 2000 Credit Wages account2000

What is the journal entry for a 9000 long term loan that will be repayed at 10000 at a later time Also what is the journal entry for repaying this loan in full?

Debit cash / bank 9000Credit long term loan 9000Debit long term loan 9000debit loss on repayment 1000Credit cash /bank 10000

What is the journal entry to charge-off a loan?

journal entry to write off a loan

What is an amortization schedule for a loan?

An amortization schedule for a loan is basically the date that you have to place the payment of a repayment of your loan. If you miss this schedule, then fees might apply.

How is a student loan calculator different from a regular loan calculator?

The student loan calculators shows the repayment amount and the salary needed to afford the repayment. Traditional loan calculators only show the repayment amount and schedule.

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Journal Entry:Interest on loan a/c xxxxLoan a/c xxxx

What is the journal entry for borrowed loan from ragu?

Loan from ragu A/c dr cash

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

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