Answer / binoy abraham

1. First Entry
Fixed Assets A/c Dr 62930
Interest Supence A/c Dr 6846
To Bank Loan A/c 69776

2. Monthly 2 entries
Bank Loan A/c Dr 1191.00
To Bank Current A/c 1191.00

Interest A/c Dr 142.63 (6846/48) for monthly int
To Interest suspence A/c 142.63

Answer / majeedf13

1) journal entry for Car Purchased

Fixed Asset A/c Dr.62930
Interest A/c Dr 6846
To Bank Loan A/c 69776


Every Month Jounal Entry

bank Loan A/c 1191
to Bank A/c 1191

Answer / ravi

loan taken = 62930
interest = 6846
total = 69776

we have issued 48 postdated cheques so every month 1 cheque
will be cleared of amounting 1191*48 = 57168

every month one cheque amounting to 1191 will be cleared

ADR

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