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you purchase a machinary on a loan what is the joury entry
for that and where will you show the the loan amount in
balance sheet and show the ledger account?
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Answer Posted / lokesh khintolia
First Part Answer........
Machinery A/c Dr. 10000.00
To Loan A/c 10000.00
Second Part Answer...........
If Loan Received from Bank than its show in secured Loan
Account under the liability Head.
If Loan Received from any friend or Family member than its
show in Unsecured Loan under the Liability Head......
Correct me if m Wrong......
| Is This Answer Correct ? | 19 Yes | 1 No |
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