if company made a purchase of asset for rs. 10000 with a credit period of 2 yrs
then what is the entry as per IND AS
Asset a/c dr
To creditor
at the time of purchase u should pass above entry
2) intrest a/c dr
To creditor
because u have to pay intrest for 2 months
3) at finally
creditor a/c
To cash/Bank
CAclubindia
