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



what is journal entries for Vehicle loan settled with bank after Sale of the vehicle on profit o..

Answer / pushkar

Loan A/c Dr
to party A/c

Party A/c Dr
to Vehicle
to profit on sale a/c

cash/ bank a/c dr
To, Party a/c

Is This Answer Correct ?    1 Yes 1 No

what is journal entries for Vehicle loan settled with bank after Sale of the vehicle on profit o..

Answer / sumathy

Bank a/c dr
To loan a/c cr

Is This Answer Correct ?    0 Yes 0 No

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