Accured interest

This query is : Resolved

J vijaykumar (Querist)
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02 February 2019 Good morning sir,
We purchased Securities for Rs.100000/- it includes 95000/- principle & 5000/- as accured interest for 90 days i.e. total -100000/- on 29th September, 2018. On 20th November, 2018 received interest Rs.8000/- credited in bank account. Kindly give suggestions on how to pass the entries.

Kamal Kant Mittal

Kamal Kant Mittal (Expert)
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02 February 2019 At the time of purchase of securities :
Security A/c dr.
Accrued Int. A/c Dr.
To Bank\vendor account

At the time of Receiving Interest
Bank A/c Dr.
To Interest Income A/c

Interest Income A/c Dr.
To Accrued Interest A/c

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