Chart of Accounts
If I'm taking out from a bank account to give a loan to another company which is another DBA company of the first entity company, what type of account would it be in my Chart of Accounts?
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b8-Y9zYYWr3QjyacfA8pyY
11/06/09 3:32pm PST
Viewed by asker 11/17/09 6:37pm PST
Viewed by asker 11/17/09 6:37pm PST
1 Reply
11/07/09 12:43pm PST
Latest post
let me make sure I understand the question. The second company is a division of the first? If this is correct than it isn't a loan, you can't give a loan to yourself, it is just a transfer of funds from one bank account to another. If it is a completely separate company than it is set up as a loan from your business under other current assets.
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