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In cum interest and ex interest I didn't understand the journal entries for 31 st march We want to see in whom point of view can u explain the journal
Answers (7)
Thread Starter
Kanaga ManiIn journal entry for Shyam He paid the interest then how interest receivable debited? Then explain the 3 journal entry
Please share the illustration (question)
Thread Starter
Kanaga ManiIn journal entry for Shyam He paid the interest then how interest receivable debited? Then explain the 3 journal entry
It is debited to Interest receivable because at a later date, the interest would be received against the payment made. At time of purchse Investment Dr Interest Receivable Dr To Bank