how is executors account loan is prepare when it is given for equally installment?
Executor's Loan Account is prepared in the following manner:
Executor’s Loan Account (for more than a year) | |||||
Dr. | Cr. | ||||
Date | Particulars | Amount (Rs) | Date | Particulars | Amount (Rs) |
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| Cash A/c / Bank A/c (Principal + Interest) Ist Installment |
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| Executor’s A/c |
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| Balance c/d |
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| Interest A/c |
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| Cash A/c / Bank A/c (Principal + Interest) IInd Installment |
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| Balance b/d |
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| Balance c/d |
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| Interest A/c |
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| Cash A/c / Bank A/c (Principal + Interest) IIIrd Installment |
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| Balance b/d |
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| Balance c/d |
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| Interest A/c |
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