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what is entry of loan & Advance given to Client Rs. 4 crore
@ 3% per month for one year,Interest Recievable,Interest
Recd.
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Answer Posted / dinesh jangid
1. LOAN & ADVANCES A/C DR. 40000000.00
TO CASH/BANK A/C 40000000.00
2. INTEREST RECEIVABLE A/C DR. 1200000.00
TO INTEREST A/C 1200000.00
3. CASH/BANK A/C DR. 1200000.00
TO INTEREST RECEIVABLE A/C 1200000.00
| Is This Answer Correct ? | 33 Yes | 2 No |
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