what is journal entries for Vehicle loan
settled with bank after Sale of the
vehicle on profit or loss in case the party
paid check direct to Bank .......???
Answers were Sorted based on User's Feedback
Answer / pushkar
Loan A/c Dr
to party A/c
Party A/c Dr
to profit on sale a/c
cash/ bank a/c dr
To, Party a/c
|Is This Answer Correct ?||1 Yes||1 No|
Answer / sumathy
Bank a/c dr
To loan a/c cr
|Is This Answer Correct ?||0 Yes||0 No|
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