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hi friends... what it is the journal entry to be passed when
the loan sanctioned by one bank and same the cheque was
deposited in another bank on same day.?
thanks & regards

Question Posted / srikanth

Answers were Sorted based on User's Feedback



hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and sa..

Answer / venkat

Bank a/c Dr
To Bank Loan a/c

Is This Answer Correct ?    12 Yes 3 No

hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and sa..

Answer / anil kumar tomer

at the time of section no entery will be done but at the
time of deposit the cheque into bank then entry should be

bank a/c dr
to bank loan a/c

Is This Answer Correct ?    3 Yes 0 No

hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and sa..

Answer / omesh manhas

The journal entry will be :

bank a/c dr (where deposit)
To bank loan a/c. (from loan sanction)

Is This Answer Correct ?    0 Yes 0 No

hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and sa..

Answer / sankeerthana

My Dear Aman Saab according to you are repaying the loan
account by issuing cheque. But the Entry will be
Bank a/c Dr
To Bank Loan a/c
(Cheque recdeived from a bank towards loan was deposited in
our bank account)
To know more about Practical Accountancy and Taxation pl
visit my favourite website http://therealaccountants.com

Is This Answer Correct ?    0 Yes 0 No

hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and sa..

Answer / xyz

very simple
supose loan is sanctioned by bank 1 and the cheque was
deposited in bank 2 the entry will be

bank 2 a/c
to bank 1 a/c

Is This Answer Correct ?    2 Yes 4 No

hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and sa..

Answer / aman

BANK LOAN A/C DR
TO BANK ACCOUNT
(BEING LOAN SANCTION BY BANK )

Is This Answer Correct ?    2 Yes 8 No

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