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-   -   Fixed term deposits (https://www.askmehelpdesk.com/showthread.php?t=799491)

  • Aug 17, 2014, 10:36 PM
    Deemeripng
    Fixed term deposits
    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.

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