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Mr X has invest Rs.150000/- from his saving bank a/c for
fixed deposit after maturity he received with interest amt
Rs.165000/- He requested bank to renewed the same excluding
inst amt.Bank after deducting charges credit the insterest
amt to Mr. X a/c..pass the Journal entry in the books of MR.X
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Answer Posted / nishant jain
1. Investment(Fixed Deposit) A/c Dr. 150000
To Cash/Bank A/c 150000
(Being amount invested in F.D.)
2. Bank A/c Dr. 165000
To Investment(F.D.) A/c 150000
To Interest A/c 15000
(Being amount recd. on maturity of F.D.)
3. Investment(F.D.) A/C Dr. 150000
To Bank A/c 150000
(Being amount reinvested in F.D.)
4. Saving A/C Dr. 15000
Bank charges A/C Dr. 100
To Interest A/C 15000
To bank/Cash A/C 100
(Being Interest amount t/f to saving a/c and bank
charges paid.)
| Is This Answer Correct ? | 14 Yes | 9 No |
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