What does the Construction Bank mean by recovering the loan principal and interest?

CCB's recovery of loan principal and interest means that after users borrow from CCB, CCB will deduct the corresponding loan principal and interest according to the loan contract. If the user does not apply for a loan from CCB, but receives such a short message, he can contact CCB directly and ask the customer service staff to check whether the mobile phone number is entered incorrectly.

It's just a phone number entered incorrectly. After CCB makes corrections, users will not receive any debit messages, but it usually takes several working days to process them.

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How to recover the accounting entries of loan principal and interest?

1. When granting loans:

Borrow: loan principal

Loan: absorbing deposits

2. When confirming interest income by stages:

Borrow: interest receivable

Loan: interest income

3. When the interest is actually received and deposited in the same transaction:

Borrow: interbank deposits

Loan: interest receivable

4. When the principal is recovered:

Borrow: absorb deposits

Loan: loan principal

Note: Interest income in the current period of principal recovery is treated according to the above steps 2 and 3, which are omitted here.

How to write the accounting entry of loan principal and interest payment?

Get a loan,

Debit: bank deposit

Loans: short-term loans (long-term loans)

Accumulated interest

Debit: financial expenses-interest

Loan: interest payable

Interest payment

Borrow: interest payable

Loans: bank deposits

Repay the loan when it is due,

Borrow: short-term loan (long-term loan)

Loans: bank deposits

The above are all accounting entries compiled by several beans to recover the principal and interest of loans. I don't know if you know all the information. I hope you can learn something from this article.