Both the entries stand correct. the first type of entry is helpful to track as to how much amount is receivable and from which customer. For the later entry it is difficult to track as to how much interest to recover and from which costomer.
Shyam Joshi & Associates
Pune
B.Com
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SSGS and Associates
Chennai
CA Inter
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
