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Ashok (Accountant)     14 July 2011

Journal Entry

Hi Friends,

What will be Journal entry for the follwing -

We have accepted a bills payable of 90 days with 1 % interest on Rs 2.5 lacs So how we can journalize the same ?



 7 Replies

kamal kishor sen

kamal kishor sen (STUDENT Rajasthan)     14 July 2011

Party  a/c                               Dr.

         To bills payable a/c

1 Like
CA ADITYA SHARMA

CA ADITYA SHARMA (CA IN PRACTICE )     14 July 2011

Originally posted by : kamal kishor sen

Party  a/c                               Dr.

         To bills payable a/c
nidhi agrawal

nidhi agrawal (chartered accountant)     14 July 2011

Party a/c                                 Dr.    2,50,000

Interest A/c                             Dr. amount of interest

                  To Bills Payable                                     Total amount

valji

valji (Accounts manager-MBA)     14 July 2011

agree with NIDHI

Rohtash

Rohtash (CA - Final / CS / B.Com)     25 July 2011

totally agree with Nidhi
Srinivas

Srinivas (Student.)     28 July 2011

yes,nidhi is correct..

Sunil

Sunil (ACCOUNTS EXECUTIVE)     17 September 2016

Amount ??

 


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