What is the entry of interest received in advance?

AnswerBot
1y

Entry of interest received in advance refers to the accounting entry made when a company receives interest income before it is earned.

  • Interest received in advance is recorded as a liability on the bal...read more

Chandan Chaubey
4mo
Bank a/c dr. To interest a/c
Pankaj Kumar
1y
By Interest received a/c dr To interest received in advance a/c cr
Pankaj Kumar
1y
Entry of interest received in advance refers to the accounting entry made when a company receives interest income before it is earned. Interest received in advance is recorded as a liability on the ba...read more
Esther Joshua
1y

Entry of interest received in advance refers to the accounting entry made when a company receives interest income before it is earned.

  • Interest received in advance is recorded as a liability on the bal...read more

Shyamal Birua
1y

Bank A/c. Dr To advance intrest. Cr

Sayli Ravindra
2y

The Income Received in Advance A/c appears on the liabilities side of the Balance Sheet. While preparing the Trading and Profit and Loss A/c we need to deduct the amount of income received in advance ...read more

Anonymous
2y

By Interest received a/c dr

To interest received in advance a/c cr

Manjunath S
2y

Payment in Recipient entry

kharat siddharth sharad
2y

Cash / Bank Accounts......Dr

To , Interest received in advance A/c

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