Accounting for excess interest paid and get refund in next y
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2014
Bank had charged excess interest of Rs. 1,68,000 on CC Limit till 31st march 2014 from ABC Limited. After complaining, they refund the same in may month. How should we treat the excess interest in our books for the financial year 2013-14?
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2014
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