Assistant
26 Points
Joined December 2010
Our company name is ABC Ltd. We get an unsecured loan of Rs. 1,00,000 @ 10% interest from X. We received an amount of Rs. 90,000 after deducting interest of Rs.10,000 by cheque. We deposited it into our bank TDS @ 10% is to be deducted on interest of Rs.10,000. We have paid the load of Rs. 1,00,000 after one year.
What is the journal entries for this above transactions.