05 April 2011
We have taken a secured loan from XYZ bank. Paid the file charges on 25th mar 2011 Rs.80000/- and received the amt of loan Rs. 7000000/- on 4th april 2011/-. Now please guide me how to treat the entries. Should the file charges be enterd in the bank charges incured in the last financial year and transfer to p/l account.
CAclubindia
