What is the entry for
1. Interest receivables
2. Transfer of Int receivable to P&L A/C.
3. Interest received.
4. Interest accrued but not received
5. Cancellation entry for Interest receivable as interest amt not received.
6. How is the effect of interest receivable cancellation shown in the P&L a/c?
Plz answer....
Plz anwer its urgent...
1.Interst Receivable on FD account Dr
To Interest Received on FD account
(This entry for Interest receivable/Interest accrued but not received) Reverse The entry on cancellation
2. On Interest Receievd
Bank Account or FD Account Dr
To interest Receivable account
Thank you
CAclubindia
