ENTRY OF UNSECURED CASH LOAN
This query is : Resolved
Rahul Sangani
(Querist)
21 March 2023
Sir, we have taken an amount of 10,000/- as a cash loan from a person, which has been utilized to pay an outstanding of a firm. Now, we have paid back 10000/- as a cash to that person post collection from members. Now, How should we enter these multiple cash entries in a balance sheet ? Like, Unsecured cash loan, payment to other party, repayment of cash loan. Thnaks
Dhirajlal Rambhia
(Expert)
23 March 2023
In Balance sheet only the collection from members or partners for Rs. 10000/- will get reflected.
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