Please tell me interest received on loan journal entry
Querist : Anonymous
Please tell me whether following entry is correct:-
Bank Dr.........................1009000
TDS on Interest.................1000
To Loan............................1000000
To Interest received on loan.......10000
Querist : Anonymous
Co. Dr.......................9000
TDS on interest..............1000
To Co...............................10000
Bank Dr........................1009000
To CO................................1009000
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