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What to write if u sold good in the sundry account and what to write if u received an EFT for the fixed deposit that has expired and the amount includes the year's interest?
What to write if u sold good in the sundry account and what to write if u received an EFT for the fixed deposit that has expired and the amount includes the year's interest?
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Apr 9
If you sold goods in the sundry account, you would write a journal entry to record the sale. The entry would typically include debiting the sundry account for the amount of the sale and crediting the sales account for the same amount.
If you received an EFT for a fixed deposit that has expired and includes the year's interest, you would write a journal entry to record the receipt of the funds. The entry would typically include debiting the bank account for the total amount received and crediting the fixed deposit account for the original amount of the deposit and the interest earned.