Atharv Sankliya (1354 Points)
10 December 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 10 December 2021
Loans and advances a/c
To Bank a/c
when loan is given
Bank a/c
To Interest a/c
when interest is received
Accrued interest a/c
To receivables a/c
when interest not yet paid by customer
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 10 December 2021
Accrued interest a/c
To Loans and advances a/c
will be probable if interest is included in calculations. or
receivables a/c
To interest incomes a/c
when interest is not received
use the above entry from first answer.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 11 December 2021
CAclubindia
