Provision for interest payable
This query is : Resolved
19 June 2010
Can anyone tell me do we need to creat a provision for interest payable on LC availed at the end of the year...?
19 June 2010
Bank will debit u with the interest charges and the same only needs to be provided in the books.
19 June 2010
yes if the books of accounts are maintained accrual systems you have to provide in the books.
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