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Entry for the settlement of loans?

Answers were Sorted based on User's Feedback



Entry for the settlement of loans?..

Answer / veena v

Dr.Loan a/c
Dr.Interest on loan a/c
Cr.Bank a/c

Is This Answer Correct ?    24 Yes 1 No

Entry for the settlement of loans?..

Answer / eswar

if the Loan a/c is settled by paying cash then the

entry: By Loan A/c
To Cash A/c

Normally Higher Amounts will not be settled by
paying cash, we pay through cheque/Demand drawft.

Entry: By Loan A/c
To Bank A/c

Is This Answer Correct ?    12 Yes 0 No

Entry for the settlement of loans?..

Answer / atul goel

Loan a/c dr. to cash a/c

Is This Answer Correct ?    10 Yes 0 No

Entry for the settlement of loans?..

Answer / prased

LOAN A/C - DR
TO CASH (OR)BANK

Is This Answer Correct ?    10 Yes 0 No

Entry for the settlement of loans?..

Answer / syed razvi

Loan A\c Dr 10,000
To Cash \Bank 10,000

Is This Answer Correct ?    5 Yes 0 No

Entry for the settlement of loans?..

Answer / sumitra.raghavan

loan a/c dr
interest on loan a/c
to bank

Is This Answer Correct ?    2 Yes 0 No

Entry for the settlement of loans?..

Answer / sheetal

interest on loan a/c dr
to loan a/c

Is This Answer Correct ?    0 Yes 6 No

Entry for the settlement of loans?..

Answer / srikanth

J.V

Is This Answer Correct ?    0 Yes 9 No

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