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-   -   What should be the accounting entry at the time of placement of Fixed deposit? (https://www.askmehelpdesk.com/showthread.php?t=429674)

  • Dec 30, 2009, 11:21 AM
    romagopalani
    What should be the accounting entry at the time of placement of Fixed deposit?
    What should be the accounting entry at the time of placement and maturity of fixed deposit?
  • Dec 30, 2009, 06:10 PM
    ROLCAM

    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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