Question

Loan and interest on loan comes on which side debit or credit

class 11 trial balance​

Answer 1

Answer!=

loan and interest on loan comes on debit side beacuse it's our expenses

as per the rule debit is our all expenses and losses

Answer 2

Hey mate,

Record the Loan Interest .......

In your bookkeeping, interest accumulates on the same periodic basis even if the interest is not due. This interest is debited to your expense account and a credit is made a liability account under interest payable for the pending payment liability.

Hope it helps.