Interst on loan
This query is : Resolved
12 September 2012
Sir i received a loan from my friend & give him interest what will be the entry?
12 September 2012
same like provision for expenses and payment of creditors.
12 September 2012
Cash Dr.
to Friend Name a/c
interest dr.
to friend name a/c
friend name a/c dr.
to cash
to Friend Name a/c
interest dr.
to friend name a/c
friend name a/c dr.
to cash
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