Loan entry
Lakshmi (Article) (171 Points)
14 April 2016Lakshmi (Article) (171 Points)
14 April 2016
Kunal Pansari
(Accountant)
(1037 Points)
Replied 15 April 2016
Entry in the books of Mr. X
Home Loan A/c Dr. (Full EMI, irrespective of Joint A/c)
Cash / Bank A/c Cr.
Entry in the books of Mrs. X
Mortgage Loan A/c Dr. (Full EMI, irrespective of Joint A/c)
Cash / Bank A/c Cr.
Lakshmi
(Article)
(171 Points)
Replied 15 April 2016
thanks kunal sir...how can we show joint bank a/c in both books of a/c?
Kunal Pansari
(Accountant)
(1037 Points)
Replied 15 April 2016
As Home Loan A/c exist only in the books of Mr. X & Mortgage Loan A/c exist only in the books of Mrs X, Hence, Joint A/c need not be shown.