Poonawalla fincorps

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2014 hi every body this is kranthi can you tell me Journal entry for these question
Q:Purchase cell phone Rs.9000 and down payment Rs.1500 and remaining Balance paid emi 20 months per month RS.375/- how to pass on jv
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
29 November 2014 first pass the entry for purchase

Dr: Mobile ( Fixed asset) Rs.9000
Cr:Bank/cash Rs.1500
Cr:Loan Rs.7500


Every month loan payment

Dr:Loan a/c Rs.375
Cr: Cash/Bank Rs.375

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