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....