Interest on Rent paid and Interest on rent received

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AISHWARYA (Querist)
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30 April 2020 Hi,

Can anyone pl tell me Interest on Rent paid and Interest on rent received journal entry with example and also B/S effect.

Gokul Sharma

Gokul Sharma (Expert)
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01 May 2020 int on rent paid is your expense
Int on rent A/c dr..........
to cash/bank

int on rent received is your income
cash/bank dr..........
to int on rent received

both are the part of profit and loss a/c
this will not effects the Balance Sheet.

only net profit will trf to balance sheet,

AISHWARYA

AISHWARYA (Querist)
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01 May 2020 Thank you very much sir.