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FD renewal
what is journal entry for renewal of FD in bank?
Replies (6)
No entry required for renewal of FD in bank
what is entry of expired stock in big mall like big bazar?
he inventory write off journal entry is as follows:
| Account | Debit | Credit |
|---|---|---|
| Loss on inventory write off | 1,000 | |
| Inventory | 1,000 | |
| Total | 1,000 | 1,000 |
No,Need to Entry for renewal of FD in bank
hai,
1)
For FD Matured
Bank Dr Full amt matured
To FD Cr. FD Amt
To Interest Accrued Cr. (Interest Accrued)
To Interest earned A/c Cr.(Current month interest)
2)
For FD Reinvested
FD A/c Dr. (With full amt matured)
To Bank A/c Dr. (With full amt matured)
No need to Do Entry but you can make entry for information of renewal
DR -FD With BANK
CR- FD With Bank
(Narration- Renewed FD Details)
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