a school fees can 84000/-
i pay this through emi -12500/-
how to get entry in accounting?
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How to treate school fees expenses
Replies (3)
These are your drawings .
do entry through capital account.
do entry through capital account.
Let's say u pay 84000 in 7 installments (12500*7=87500)
Entry should be
School fees........ Dr12000
Interst....... Dr500(will be calculated using reverse caln)
To cash 12500
Thanks for help sir.
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