Advance EMI Entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 January 2011
We have purchased a Car on Loan of Rs 14 lakh. The lender has disbursed Rs 13,77,471/- after deducting 1 adv EMI of Rs 22,529. What should be the treatment in books. Please reply with the help of Example
Thanks & Regards
Thanks & Regards
30 January 2011
Bank A/c dr. 1377471
To Car loan A/c 1377471
To Car loan A/c 1377471
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 January 2011
But what about the advance EMI?
30 January 2011
Car loan a/c dr xxxx(Full amount)
advance paid to car dealer Cr xxxxx
to loan account xxxx(Balace amount)
advance paid to car dealer Cr xxxxx
to loan account xxxx(Balace amount)
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