Accountancy, asked by bengadepritam7, 19 days ago

in company final accounts interest paid is treated as a

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Answered by Anonymous

Answer:

The amount of interest charged on capital is an indirect expense of the business and on the other hand, it is an income of the owner. Interest on Capital has the following two effects on final accounts: It is an expense of the business, therefore; it will be recorded on the debit side of Profit and Loss Account.

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