Easy Office
LCI Learning

Interest payable journal entry

This query is : Open 
Profile Image

Profile Image

(Querist)
14 July 2014 Hello Everyone,

Loan taken for Rs.8 lacs on 17.4.12 and repaid till 27.7.12 ROI 8 percent.What would be the journal entry for the Interest payable?
Profile Image

SAJEEV

Profile Image

SAJEEV (Expert)
14 July 2014 1.At the time of booking,entry will be

Interest a/c Dr
To Interest Payable

2.At the time of payment

Interest Payable a/c Dr
To bank/Cash

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links