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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
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Answer Posted / 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
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