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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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