Interest on Rent paid and Interest on rent received
This query is : Resolved
30 April 2020
Hi,
Can anyone pl tell me Interest on Rent paid and Interest on rent received journal entry with example and also B/S effect.
Can anyone pl tell me Interest on Rent paid and Interest on rent received journal entry with example and also B/S effect.
01 May 2020
int on rent paid is your expense
Int on rent A/c dr..........
to cash/bank
int on rent received is your income
cash/bank dr..........
to int on rent received
both are the part of profit and loss a/c
this will not effects the Balance Sheet.
only net profit will trf to balance sheet,
Int on rent A/c dr..........
to cash/bank
int on rent received is your income
cash/bank dr..........
to int on rent received
both are the part of profit and loss a/c
this will not effects the Balance Sheet.
only net profit will trf to balance sheet,
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