if we following Cash Basis Accounting System
the can we charged interest on Unsecured loan in Profit & Loss A/c at the end eventhough we have not paid interest.
for Eg. Intt on Unsecured Loan is Rs. 15,000/- at the end as on 31-03-2010 if we don't pay can we treat as expense in F.Y. 2009-10 and we pay intt in April 2010