Deemeripng
Aug 17, 2014, 10:36 PM
Hi,
I need help with this, I'm not sure what to do.
Unadjusted trial balance shows fixed term deposits as $850,000.
Adjustments:
Term deposits include a $300,000 5 years deposit with central bank and the balance is in short term on-call deposits with the commercial banks.
My question is, what do I do? I know that I need a debit and a credit entry but don't know where they go (which accounts, that is).
Any help or pointers would be greatly appreciated.
I need help with this, I'm not sure what to do.
Unadjusted trial balance shows fixed term deposits as $850,000.
Adjustments:
Term deposits include a $300,000 5 years deposit with central bank and the balance is in short term on-call deposits with the commercial banks.
My question is, what do I do? I know that I need a debit and a credit entry but don't know where they go (which accounts, that is).
Any help or pointers would be greatly appreciated.