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FADouble entry for purchase building

Ssherlyn080211y ago
What is the double entry of purchase shop house by using bank loan? And the double entry of payment of the bank loan.
Ssherlyn080211y ago#1
Please help me. Thanks
John MoffatJohn MoffatTutor11y ago#2
In future, if you want me to answer then you must ask in the Ask the Tutor Forum - this forum is for students to help each other. To purchase a shop by using a bank loan is two entries. First you enter the loan: Dr Cash; Cr Loan account Then you buy the shop: Dr Shop; Cr Cash To repay the loan, the entry is: Dr Loan; Cr Cash (I do suggest that you watch the free lectures on here - they go through everything you need to be able to pass F3)
MMyat1y ago#3
business buys a shop
John MoffatJohn MoffatTutor1y ago#4
So? What is your question? You must watch my free lectures on double entry bookkeeping where the entry is explained. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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