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what is entry of loan & Advance given to Client Rs. 4 crore
@ 3% per month for one year,Interest Recievable,Interest
Recd.
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Answer / dinesh jangid
1. LOAN & ADVANCES A/C DR. 40000000.00
TO CASH/BANK A/C 40000000.00
2. INTEREST RECEIVABLE A/C DR. 1200000.00
TO INTEREST A/C 1200000.00
3. CASH/BANK A/C DR. 1200000.00
TO INTEREST RECEIVABLE A/C 1200000.00
| Is This Answer Correct ? | 33 Yes | 2 No |
Answer / udai raj
1) loan & advances a/c Dr.40000000
To cash A/c 40000000
2) Interest A/c Dr 1200000
To Interest receivable A/c 1200000
3) Interest receivable A/c Dr 1200000
To Cash A/c 1200000
| Is This Answer Correct ? | 6 Yes | 21 No |
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