ENTRY OF UNSECURED CASH LOAN
This query is : Resolved
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
23 March 2023
In Balance sheet only the collection from members or partners for Rs. 10000/- will get reflected.
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