Query regarding vehicle loans

b.srinivasa rao (job) (36 Points)

02 July 2009

Dear Sirs,

can i know how to pass entries regarding interest on vehicle loans and finance

charges at year end.

Thank you.

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2 Replies

Gurmet Siingh (Chartered Accountant) (413 Points)
Replied 02 July 2009

The entry will be :

For payment of Instalment

Vehicle Loan Dr

Interest on loan Dr.

To Bank A/c

b.srinivasa rao (job) (36 Points)
Replied 03 July 2009

Originally posted by :ramikhalsa
"	The entry will be : For payment of Instalment Vehicle Loan Dr Interest on loan Dr. To Bank A/c	"

Thank you sir,

what about finance charges entries at the time of finalisation of account. plz reply.

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