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    saira khan's Avatar
    saira khan Posts: 2, Reputation: 1
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    #1

    Aug 17, 2009, 01:37 AM
    Adjusting entries
    Bank over draft is 7400 in trial balance and six months interest on over draftis due at 18% p.a. do tell me the adjusting entry of this.
    saira khan's Avatar
    saira khan Posts: 2, Reputation: 1
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    #2

    Aug 17, 2009, 01:41 AM
    Quote Originally Posted by saira khan View Post
    bank over draft is 7400 in trial balance and six months interest on over draftis due at 18% p.a. do tell me the adjusting entry of this.
    This entry is taken fron five year from the year 1997 Regular.
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
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    #3

    Aug 17, 2009, 10:47 AM

    Calculate the amount of interest and record the adjusting entry debiting interest expense and crediting bank overdraft
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