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What is an Acrual Interest?
In which side of the Balance Sheet, it should be shown????
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Answer Posted / sheraz hassan
Acrual Interest, is such an income which have been earned
by the company but not yet received till end of the year.
So that while posting accounting entery we will DEBIT the
Interest Receivable as Asset while, will Credit Interest
Income in Profit & Loss Account.
| Is This Answer Correct ? | 5 Yes | 0 No |
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