Question

Short Questions
1. On 1.4.2015 a trader deposited * 80,000 in fixed deposit in Punjab National Bank
Ca
@ 10% P.A. He received * 6,000 in cash for interest up to 31.3.2016. While
preparing final account on 31.3.2016 what adjustment entry shall be passed?
​

Answer 1

Answer:

Cash A/c ...Dr 6000

To Interest received 6000

on fixed A/c

(Being interest received on fixed account)