What is the entry for interest due on loan from directors?

it's Interest a/c Dr. to Laon A/c

Its like one and the same thing.

Interest Accrued A/c---Dr.

To Loan /Loan from Director's A/c

Sunali ..may i knw why u debited interest Accrued ...wat's the reason behind that..plz explain by referring3  Golden rules of Debit & Credit

Originally posted by : sahil singla
	Sunali ..may i knw why u debited interest Accrued ...wat's the reason behind that..plz explain by referring3  Golden rules of Debit & Credit

Thanks for reminding me the Golden rules Sahil. It was just by mistake that I wrote 'ACCRUED'. correcting myself. here it goes:

Interest A/c---Dr.

To Loan /Loan from Director's A/c

thanks to u sunali..i thought i forgot the rules at this stage of CA...that's why i asked u !!

should i take interest due a/c under loans& advances or any other head. I have to pass this enty in tally.

if the interest is accrued but not due then,under loans & advances but if interest is accrued & due then take it under other liabilities