Can u anybody suggest, any method to acount for HP installments.Shall i need to create interest suspence account
rama krishna (employee) (35 Points)
08 January 2009Can u anybody suggest, any method to acount for HP installments.Shall i need to create interest suspence account
Rupesh Jha
(M.Com CA PhD* and MBA*)
(1116 Points)
Replied 24 April 2009
Entry for Hire Purchase :-
(1) on purchase-
Assets A/c..................Dr (Hire purchase price)
To Hire Vendor A/c (cash price of assets)
To Intt. Suspense A/c(total of intt.)
Rupesh Jha
(M.Com CA PhD* and MBA*)
(1116 Points)
Replied 24 April 2009
(2) Entry for payment of HP installment :-
Hire Vendor A/c....................Dr.(cash prise in insttalment)
Intt. Suspense A/c...............Dr.(intt. in insttalment)
To Cash/Bank A/c(Total amount of insttalment)
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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