Transaction for loan and interest. Write the following Transaction in the Journal of Pushar
2014
3. ₹8,000 lent to Laxman at interest rate of 8%.
8. Received cash ₹800for loan lent to bharat and ₹200 for interest.
10. ₹5,000 returned back to Seeta for borrowed loan and paid interest ₹400.
12. Received interest ₹200, for loan lent to kaushal.
15. interest for month paid for loan obtained from Ram.
18. ₹75 became receivable for interest on loan of laxman.
Date | Particulars | L/F | Debit (₹) | Credit (₹) |
2014, Feb |
|
|
|
|
1 | Cash A/c Dr. To 12% Loan from Ram A/c (Being 12% loan borrowed from Ram) |
| 20,000 |
20,000 |
3 | 8% Loan to Laxman A/C Dr. To Cash A/c (Being 8% loan lent to Laxman) |
| 8,000
|
8,000 |
8 | Cash A/c Dr. To Bharat A/c To Interest loan A/c (Being cash and interest received from Bharat)
|
| 1000
|
800 200 |
10 | Seeta A/c Dr. Interest on Loan A/c Dr. To Cash A/c (Being loan and interest paid) |
| 5,000 400 |
5,400 |
12 | Cash A/c Dr. To Interest on loan A/c (Being Interest on loan received from Kaushal) |
| 200 |
200 |
15 | Interest on Loan from Ram A/c Dr. To Cash A/c (Being Interest on loan received)
|
|
200 |
200
|
18 | Laxman Loan (O/s) A/c Dr. To Interest on LoanA/c (Being ₹75 receivable from Laxman it is outstanding) |
| 75 |
75 |
|
|
| 83,475 | 83,475 |
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