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What the journal entry of Taken a loan from bank i?

Loans Journals
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Question ajoutée par Payal tharani
Date de publication: 2017/09/07
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Clement Charles
par Clement Charles , Finance Manager , PT.Sumber Mitra Jaya

BY Bank a/c Dr.

To Loan a/c Cr.

Entry for Loan received

 

By Interest a/c Dr.

To Loan a/c Cr.

Entry for Interest

 

By Loan a/c Dr.

To Bank a/c Cr.

Entry for Loan repaid

Junika Tamang

loan A/c Dr To bank A/c (Being loan taken from bank)

holiday

Sohan Deb

Sir i am a commerce student Read in class 11 My question is ...What is the jouranl entry of Loan taken from bank...And i got the answer from you Here...But still i have a doubt that how is it possible..that Bank Is debit...As i have taken loan from bank so bank is the giver....Please tell me tha answer please...

Ali Raza Shah
par Ali Raza Shah , Group Banking, Trade Finance,Insurance & Marine Officer , Alsaad General Contracting Co. Ltd.

In the Books of Lender: When loan is given by Lender Borrower's Loan Account Debit & Bank Account Credit. Lender has right to get interest on given loan so Interest on Loan Receivable Account Debit and Interest Account Credit

Nitul Haque

Taken loan from anju of Rs 200000

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