Following is the extract of Trial Balance as at 31st March, 2025: Interst on Loan ₹ 8,000
Following is the extract of Trial Balance as at 31st March, 2025:
Additional Information: Loan of ₹ 6,00,000 was taken from State Bank of India at an interest rate of 12% p.a. on 1st July, 2024 and it was repaid on 1st October, 2024.
Show the treatment of ‘Interest on Loan’ in Final Accounts.
| Heads of Accounts | Dr. (₹) | Cr. (₹) |
| Interst on Loan | 8,000 | — |
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