Journal Entry For Loan Given To Employee
Loa n given by a company or corporation to an employee is an advance payment to him / her. It is a Current Asset if it is used within one year, otherwise it is a N on Current Asset / Fixed Assets . The Journal Entry to record loan payme nt is shown below: Loan To Employees a/c / Advance To Employee (Mr.A) XXX Cash a/c / B ank a/c XXX (Loan Given To Employee) At the ...