Loan a/c Flashcards
1
Q
Loan taken by firm from partner
A
Bank dr
To loan a/c
2
Q
Loan taken by firm from partner , transfer entry
A
P/l a/c dr
to IOL
2
Q
Loan taken by firm from partner , Interest due
A
IOL a/c dr
to Loan a/c
3
Q
loan given by the firm
A
Loan a/c
to Bank
4
Q
loan given by the firm , transfer entry
A
IOL a/c dr
to P/l a/c
5
Q
loan given by the firm , Interest due
A
Capital / current
to IOL
