Hi Friends,
What will be Journal entry for the follwing -
We have accepted a bills payable of 90 days with 1 % interest on Rs 2.5 lacs So how we can journalize the same ?
7 Replies
kamal kishor sen
(STUDENT Rajasthan)
(2156 Points)
Replied 14 July 2011
Party a/c Dr.
To bills payable a/c
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 14 July 2011
| Originally posted by : kamal kishor sen | ||
 |
Party a/c Dr. To bills payable a/c |
 |
nidhi agrawal
(chartered accountant)
(76 Points)
Replied 14 July 2011
Party a/c Dr. 2,50,000
Interest A/c Dr. amount of interest
To Bills Payable Total amount
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