Ask Experts Questions for FREE Help !
Ask
    CAP1's Avatar
    CAP1 Posts: 1, Reputation: 1
    New Member
     
    #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: 81,301, Reputation: 7692
    Expert
     
    #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

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

How to make entry for post dated cheque? [ 10 Answers ]

Hello Friends, Last week I faced an interview for accountant post. In that I was asked to pass an entry for post dated cheque. What is the answer for this queston? Thank You

Does a post dated cheque appear in the bank recon [ 1 Answers ]

I want to know if a post dated cheque appears in the bank recon and if it's a debit or credit.

Accounting of Post Dated Cheque in Tally [ 2 Answers ]

I would like to know about PDC entry in Tally. Tally have a option to enter PDC with just pressing Ctrl+T with a future date. Here is my query... 1.If the future date is above the prevaling Financial Year, how we go about this?? 2.When it will be displayed in Supplier Ledger?? Thank you

Does a "post dated cheque" comply with the definition of a cheque? [ 2 Answers ]

Is such a cheque a valid negotiable instrument?


View more questions Search