entry for installment at time of finalisation

A/c entries 603 views 1 replies

 installment amout is rs 22500.00 out of 5000.00 is the interest

 

but payment made 22500.00 through bank it is apply for 12 month that is for full year

 

at the time of finalisation is necessary that saparate entry pass for interest as well as installment for 12 months

pls let me know the entries also

 

Replies (1)

Separate entry needs to be passed for interest.As being expenditure it has to be charged to p&L A/C


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