CC facility
SHIVANI KUDTARKAR (511 Points)
23 October 2018
how principal and interest on cash credit (i)payable (ii)paid to bank are shown or reflected in P/L or B/s
2 Replies
Hitesh
(Student)
(3549 Points)
Replied 23 October 2018
If payable shown in BS in current liabilities and interest also in current liabilities. If paid deducted from principal
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 23 October 2018
The Principle amount shown under Current Liabilities head...
&
Interest is charged in the end of the month. So, It will directly booked in PandL. Otherwise it's also shown in Current Liabilities as Provisions or Short term Provision***
&
Interest is charged in the end of the month. So, It will directly booked in PandL. Otherwise it's also shown in Current Liabilities as Provisions or Short term Provision***
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