what is red ink interest-AnsWER - from the date of closing to the due date.(as per self assessment CD)
pl help where this point of red ink interest is given in 'Fundamentals of Accounting' text book ? i cannot find it in the chapter-Accounting for special transactions-Bills of exchange & promissory notes.
if red ink interest is in IPCC syllabus, then why this topic is included in CPT-self assessment CD ?? IPCC which subject / chapter ??
chapter is account current .... before the introduction of cpt ... that is during PE -1 ... ACCOUNT CURRENT WAS IN FOUNDATION SYALLABUS ... LATER IT WAS EXCLUDED ... IT MAY BE BECAUSE OF THIS
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