Interest paid on bank loan rs1000
.journal entry
Answers
Answered by
24
Answer:
Interest A/c Dr. 1000
To cash A/c. 1000
(interest paid on loan)
Answered by
12
Answer:
Bank loan a/c Dr. 1000
To Bank a/c 1000
(Being interest on bank loan paid)
Explanation:
Above stated entry is compound effect of two entries.
Bank loan a/c Dr. 1000
To Intt on Bank loan a/c 1000
(Being interest due on bank loan)
Intt on Bank loan a/c Dr. 1000
To Bank a/c 1000
(Being interest on bank loan paid)
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