Interest on loan not received
This query is : Resolved
Parth and Naitik Gada
(Querist)
12 July 2019
I have given money on interest to one party during the financial year 2018-19. Now due to bad financial conditions, he is unable to give the interest on the loan. He promises to give me in 2019-20. But it is doubtful whether he will keep up to his promise.
How to account for the interest amount.
Please guide.
How to account for the interest amount.
Please guide.
04 June 2020
Interest will keep in accruing until Principal and Interest is paid.
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