Glossary · Banking

What is Short-term bank loan?

A loan received from a bank for a term of up to twelve months. The amount received is recorded on the credit of account 6810, and the amount repaid on its debit. Analytical accounting is kept for each bank, loan amount and term. Money received from a lender other than a bank is recorded in account 6820 "Short-term borrowings".

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More terms: Banking

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