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Hi Everybody,

Can anybody tell me the journal entry for below question,

Charged interest on Capital Rs.1,500.00

Thanks,

Answer Posted / sukavani

Interest on Capital A/C Dr. 1500.00
To Capital A/C 1500.00


P&L appropriation a/c DR. 1500.00
To Interest on Capital a/c 1500.00
(Transfer to P&L a/c

no need to pass two entrys,if it required do it this also

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