My company has taken a car loan from HDFC Bank, Assume 7.5
lacs. but it disbursed after deducted adv emi. how to pass
the jv for that . Plz pass the entry
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Answer Posted / satya prakash
Purchase Car:-
Car A/c Dr ( By Entire cost of Car )
To Party A/c Cr ( Party Name from we purchase Car )
Payment to Party:-
Party A/c Dr
Loan Processing Fee Dr
To HDFC Loan A/c Cr
EMI Paid to Bank:-
HDFC Bank Loan A/c Dr. ( Principal Amt. )
Interest On Loan A/c Dr. ( Indirect Exp. )
Bank or Cash A/c Cr.
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