Accrued interest

This query is : Resolved

survesh (Querist)
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10 June 2010 Hi Sir,

Please say me what are the condition for passing entry (Accrud Interest)

Please give example for clearfication

Example

A person has made fd dt 26/9/2009 and maturity date is 27/7/10 for 13 months

Opening Dt Amt 25000.00
Maturity Dt Amt 26899.00

In FD Statement Bank shows 1410.00 interest is paid as on 31/3/2010.

What Entry Should I Pass:
FD Cretied: FD Dr Cash Cr
Interest Entry: Accrud Interest Dr Interest on FD Cr

OR
FD Dr Interest Cr.

Please Clear when we pass entry for Accrud Interest.

Thanks & Regards
Survesh

Aditya Maheshwari

Aditya Maheshwari (Expert)
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10 June 2010 Accrued Interest on FD a/c Dr
to Interest A/c

Entry to be passed on 31.03.2010.

survesh

survesh (Querist)
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10 June 2010 What should be the group Accrued interest and Interst ac

Aditya Maheshwari

Aditya Maheshwari (Expert)
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10 June 2010 Accrued Interest under loans & Advances

Interest income under income.

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