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What should be the accounting entry at the time of placement of Fixed deposit?
romagopalani
Dec 30, 2009, 11:21 AM
What should be the accounting entry at the time of placement and maturity of fixed deposit?
ROLCAM
Dec 30, 2009, 06:10 PM
Placement.
DEBIT Fixed Deposit Account.
CREDIT Bank Account.
Being placement of fixed deposit.
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Maturity.
DEBIT Bank Account.
CREDIT Fixed Deposit Account
Being the maturity of a fixed deposit.
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