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
Separate entry needs to be passed for interest.As being expenditure it has to be charged to p&L A/C
N J Suresh & Associates
Bengaluru
CA Inter
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Suraj Garg and Associates
New Delhi
CA Inter
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PARV & Co.
New Delhi
CA Inter
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CCI
Pro
CAclubindia
