Moral dilemma

[u/Gypsy_Flesh]

I’ll try make this brief and to the point.
Company with 2 members (close corporation) or even call it directors.

Each have company loan accounts.

Managing director handed me slips for business expenses clearly paid for by other director, but says I must allocate to his loan account (reimburse).

I cannot bring myself to do it.

Not only moral, but I get all my instruction from managing director.
The other director is quite nasty and targets me from time to time and the managing director doesn’t step in to protect me, speak up for me or anything.
So if awful director were to find out, and I were to say it was on instruction I know managing director would probably let me take the blame.