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    CAP1's Avatar
    CAP1 Posts: 1, Reputation: 1
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    #1

    Oct 15, 2017, 11:44 AM
    Long term loan and post dated cheque accounting entry
    Hi,

    I need to pass the accounting entry for the below transaction.

    We bought a car through a loan, we issued post dated cheque (60 nos) against this loan. Please I need to know how to pass the accounting entry to the following accounts.

    1. Fixed asset - vehcle

    2. Loan

    3. Pdc (post dated cheque)

    Tks... Prakah
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692
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    #2

    Oct 15, 2017, 06:54 PM
    If this is in the US. Not sure what country, post dated checks are not legal, so there is no way to post an illegal activity

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