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accounting entries- interest calculation

Hi all,

Can any one tell me the accounting entries for interest paid/receive

Regards,

sankar

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    author's profile photo Former Member
    Former Member
    Posted on Aug 21, 2009 at 12:25 PM

    Hi,

    Could you please elobrate a little more on the scenario. A normal accounting entry would be -

    Interest paid A/c Dr XXXXX

    Bank A/c Cr. XXXXX

    or

    Bank A/c Cr XXXXX

    Interest Received A/c Cr. XXXXX

    Please revert if you are looking for something more specific.

    Thanks and Regards,

    Anit

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