In Axis Bank Rs 25 lakh FD Made
what is the fixed deposit interest received journal entry in books of accounts how to record in books of accounts what is the entry
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What is the journal entry for fixed deposit interest received
Replies (4)
If interest is received
Bank AC......Dr.
To Interest on Fix Deposit
Bank AC......Dr.
To Interest on Fix Deposit
Ledger Name: INTEREST RECEIVED ON FD
Under : Indirect Incomes
Entry:
Cr. INTEREST RECEIVED ON FD A/c - XXXXX
Dr. Bank A/c - XXXXX
Under : Indirect Incomes
Entry:
Cr. INTEREST RECEIVED ON FD A/c - XXXXX
Dr. Bank A/c - XXXXX
if interest is received
Dr. Bank A/c XXXX
Cr. To Interest received on FD A/c XXXX.
This is not desirable .
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