Journals when Director Buys Assets in Vat Registered Co

Caspar1

I am a little unsure of the final balancing entry for journals when a Director buys assets at MV which then get sent to his Directors Loan Account. When all the debits and credits have been entered for the assets/Depreciation, there is a total remaining of £2,177.

I assume I would need to include this as a sale with VAT, £2,177 Plus £435 offset against the Directors Loan Account for £2,612 (as he hasn't paid for them yet).

Can anyone advise what account is missing at the end (or what I am doing wrong).


P&M Cost CR 2,411
P&M Dp'n DR 234
Sales CR 2,177
Vat CR 435
D/L A/c DR 2,612
????? DR 2,177


With the CT600 having a balancing charge of £2,177 (as 100% AIA was claimed originally)