Ravishankar K (Accountant) (461 Points)
02 May 2012Dear Friends ,
I am cracking my mind but not able to get the exact accounting entries. Can you please look at the bank accrued interest amount and the actual interest received so that the difference can be booked as accrued interest. Please do take a look and advise me as to what should be the entries.
Regards,
Ravi ravi.exe @ gmail.com
Shijith
(CA)
(238 Points)
Replied 02 May 2012
for accrued interest Interest Recevable A/c (current assets) Dr to Bank interest A/c(indirect income)
Interest Received Respective Bank A/c Dr To Bank Interest A/c
CAclubindia
