What will be the entry for transfer of fixed deposit amount
to their current a/c. (ie. if we hav a FD of Rs.600000 with
the bank, we need to close the FD and transfer the amount
to the current Account.
kindly provide me the entry for this.
Answers were Sorted based on User's Feedback
Answer / arpshah4u
Here FD is already marked as Investment
so entry will be...(only for accounting)
Bank Current A/c Dr.
To, FD Investment A/c
Is This Answer Correct ? | 10 Yes | 6 No |
Answer / naresh sharma
when we have need to entry transfer
current a/c dr
To Fd a/c cr
Is This Answer Correct ? | 7 Yes | 5 No |
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