How to make accounting entries to receive a loan

Accounting entries for receiving a loan:

Borrow: bank deposits

Loan: short-term loans or long-term loans

Returning the loan:

Borrow: short-term loans or long-term loans

Financial expenses-interest

Loan: bank deposits

Expanded

Generally, in the case of Before receiving the payment of goods, will be pending receipt of goods to do accounts receivable entry, so when you receive the payment of goods directly do write-off accounts receivable entry, as follows:

1, issue goods, accounts receivable, and the cost of goods:

Borrow: accounts receivable

Loan: revenue from the main business

Taxes and fees payable - payable VAT - sales tax amount

Borrow: Cost of Main Business

Loan: Inventory

2. Receive Accounts Receivable:

Borrow: Bank Deposit

Loan: Accounts Receivable

Baidu Encyclopedia-Short-term Borrowing