interest on loan

Dear friends

bank charged interest on loan for the period 29/3/10 to 25/4/10 for the amount of 16963.what will the provision entry for 3 days and what for 25 days

Replies (3)

Rs.1,817 for 3 days and Rs.15,146 for 25 days

As on 31-03-2010

Interest a/c                                              Dr. 1817        P/L item
 To Interest accrued but not due a/c         1817    Current liability


On 25-04-2010

Interest a/c                                        Dr. 15146         P/L item
 To Interest accrued and due a/c           15146   Loan funds - liability

Interest accrued but not due a/c     Dr. 1817           Current liability
 To Interest accrued and due a/c               1817    Loan funds - liability

Good reply gokul..............

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