19 January 2023
Entry at the time of investment 6.67% GOI (Investment) --46,37,500 Accrued Interest GOI Bond ( Investment) -1,30,620.83 To Party A/c 47,68,120.83 Now accrued interest received on dated 15-06-2022 Bank A/c Dr. 1,30,620.83 To Interest accrued GOI Bond 1,30,620.83 15-12-2022 Bank A/c Dr. 1,30,620.83 To Interest accrued GOI Bond 1,30,620.83 Now my question is that for twice accrued interest received how to treat in my books of accounts of Rs. 1,30,620.83+1,30,620.83 =2,61,241.6
20 January 2023
I have a question why you have booked accrued interest at the time of investment ? It has to be at the time of closing book or from statement of credit.
CAclubindia
