entry for FD

This query is : Resolved

survesh (Querist)
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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

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 June 2010 on 31st March, 2010
Entry:
FD A/c Dr...
To Interest on FD

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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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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