What is the treatment of loan
and its interest in trading
profit and loss ,balance sheet
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Answer Posted / sneha
TREATMENT OF LOAN IF IS TAKEN IT COMES UNDER LIABILITIES
SIDE OF BALANCE SHEET .IF LOAN IS GIVEN IT COMES UNDER THE
ASSETS SIDE OF HEADING "LOANS &ADVANCES".
IF INTEREST IS PAID IT IS DEBITED TO P/L A/C,IF INTEREST
IS RECEIVED IT IS CREDITED TO P/L A/C.
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