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

Anonymous

∙ 12y ago

Updated: 9/17/2023

debit cash . bank
credit loan from bank

Wiki User

∙ 10y ago

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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 for taking loan from bank?

When a business takes a loan from a bank, the journal entry would typically involve debiting the cash account and crediting the notes payable account. For example, if a company receives $10,000 in cash from a bank loan, the entry would be: Debit Cash $10,000 Credit Notes Payable $10,000 This reflects an increase in cash assets and an increase in liabilities due to the loan obligation.

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

Debit interest on loanCredit cash / bank

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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