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Journal entry for Immediate payment of interest in renewal of bill?
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Journal entry for Immediate payment of interest in renewal of bill?
When Drawer or Bill Holder Gets Interest 
In Cash

Bank Account Debit
Interest on Bill Payment Delay Account Credit

Logic : This interest is the income of drawer or bill holder and bank is increase in current asset. That is reason, above entry has passed.
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Journal entry for Immediate payment of interest in renewal of bill?
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Journal entry for Immediate payment of interest in renewal of bill? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Journal entry for Immediate payment of interest in renewal of bill? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Journal entry for Immediate payment of interest in renewal of bill?.
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