Accountancy, asked by amitsirjee8146, 8 months ago

Provide interest on capital 5000 accounting entry

Answers

Answered by singhjaspal8456

18

Answer:

Interest on capital is an expenditure for business as interest is to be paid to owner and is nominal a/c so debited

Capital is liability of business towards owner and is increased due to interest payment so credited.

Explanation:

hope it will help you

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