Accrued Int and Real Interest recd entries

Ravishankar K (Accountant) (461 Points)

09 May 2011  

Dear Friends,

We have one FD for which on 31 march based on the accrued interest and TDS deduction from Bank,  we did the journal  entry as follows:

Dr ........ Accrued Int ....... 13562.44

Dr.......... TDS .................. 1507

Cr ............ Interest on TDR / FD  ------    15069.44

 

Now on 02 May we had to prematurely close the FD and received the closed FD statement as follows from Bank.

Cr..            FD Amount already present / FD Value           1000000
Cr ..........            Interest                                                          12329

Dr...........                                        TDS                                     274.00

Dr.. FD premature close transfer to SB Ac. 000099       1012055.00

 

Now tell me what should be my entry now....