entry for FD
This query is : Resolved
10 June 2010
Hi,
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
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
10 June 2010
on 31st March, 2010
Entry:
FD A/c Dr...
To Interest on FD
Entry:
FD A/c Dr...
To Interest on FD
10 June 2010
Interest recd/credited from bank is to be debited to FDR a/c if not credited by bank then dr to Int accrued on FDR and in both the cases interest recd a/c will be credited.
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