Car loan entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 June 2015
what will be the entry for purchase of car on loan (amount deducted from company bank a/c). what will be entry in tally for car value, registration charges and insurance charges
24 June 2015
Car Account (Asset - Car Value + Registration)
To Car Loan Account (Loan Amount)
To Bank Account (Down Payment)
For Insurance charges, charge to P&L.
To Car Loan Account (Loan Amount)
To Bank Account (Down Payment)
For Insurance charges, charge to P&L.
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