Premises purchase

This query is : Resolved

YATENDRA SINGH NEGI (Querist)
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13 January 2017 Dear Experts,
We bought office premises for rs. 1,53,22,000/- down payment paid 53,22,000/- and balance payment by bank loan.

Please suggest how can i pass all necessary journal entries..

Thanks & Regards

Roney

Roney (Expert)
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15 January 2017 At the time of down payment
Dr. Advances 5322000
Cr. Cash/Bank 5322000

At the time of receiving loan
Dr. Bank 10000000
Cr. Loans 10000000

At the time of final payment
Dr. Land 15322000
Cr. Advances 5322000
Cr. Bank 10000000

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