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 Threads
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
Related Threads
CAclubindia
