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how principal and interest on cash credit (i)payable (ii)paid to bank are shown or reflected in P/L or B/s
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If payable shown in BS in current liabilities and interest also in current liabilities. If paid deducted from principal
The Principle amount shown under Current Liabilities head...
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Interest is charged in the end of the month. So, It will directly booked in PandL. Otherwise it's also shown in Current Liabilities as Provisions or Short term Provision***
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Interest is charged in the end of the month. So, It will directly booked in PandL. Otherwise it's also shown in Current Liabilities as Provisions or Short term Provision***
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