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Hey!!!!!!!!!Pleased answer my question. What do u mean by INTEREST RECEIVABLE in final accounts. How to adjust it?????????

Answer»

Interest receivable means that interest which we earned but not received TILL now.

It is also called Accrued Interest

It is add in the interest on the CREDIT side of profit &loss a\c because it is an INCOME for us and it is shown on the asset side of the balance sheet bcoz it is an asset for us

I hope you understand



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