I took loan from vikas Rs.50,000/-
interest rate is 10%
I gave Interest after March
what will be the journal entry for interest payable
Menu
journal entry
Replies (5)
HELLO RAKESH,
The same entry shall be as follows:
Interest on Loan A/c Dr 5000
To Loan from vikas 5000
closing balance is 55,000/- correct sir
Yes, you are right
Interest on Loan A/c Dr. 5000
To Vikas 5000
interest on loan A/C DR 5000
Interest Payable A/C 50000
Recent Topics :
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
- Query regarding exemption under Section 10(10AA) &
Related Topics :
CAclubindia
