Bank interest march deducted by bank in June

Dear Sir please suggest for entry bank has debit Interest in June 2020 on account of March 2020 how to make the entry in books of account in March.
Replies (1)

In the  month  of   March  2020  on 31 st  march  You have  pass  following  entry  in the Books of accounts   

1)   Bank  Interest           A/c    Dr 

     Outstanding  bank Interest  19-20        A/c    Cr  

(  being  interest  payable  to bank  Outstanding  at the end of the year ) 

Note - show  Outstanding  bank  interest 19-20 under  liability  side  of Balance sheet  

 

In the  next  year  Out standing  Bank 19-20 Interest A/c  will be carried  forward  as oping  balance 

2)  In the month  June 2020  you pass  the entry 

      Outstanding  bank Interest  19-20      A/c   Dr 

       To  Bank                                             A/c   Cr 

(  being interest  of  19-20 recovered in June 2020 by bank  ) 

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