Double entry purchase building

This topic has 1 reply, 2 voices, and was last updated 11 years ago by John Moffat.

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May 24, 2015 at 11:47 am #248385
sherlyn0802
Member
- Topics: 12
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Hi sir, for the question of purchase building by using loan.
If i do the double entry as below :
Dr.shop cr.loan
Repay the loan:
Dr.loan cr.drawing
Are this wrong?
May 24, 2015 at 5:06 pm #248473
John Moffat
Keymaster
- Topics: 57
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Yes – it is completely wrong.

The entries are as I have in answer to your previous question.
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