An investor wants to calculate interest for the following investments. As usual create a company by name ‘Interest-1’ with ‘Accounts only’ and keep as financial year. Details of investment are given here:
Date
Invested In
Amount
Rate of Interest
Maturity
14.4.XX
Indian Bank – Deposit
150000
6.0%
3 Years
2.5.XX
HDFC Bank- Deposit
300000
5.0%
31.7.XX
31.7.XX
Interest
5.5%
29.10.XX
A trader wants to monitor overdue bills and to charge interest. As usual create company by name ‘Interest 2’ ‘with Account only’ and keep 1.4.XX financial year. Sale bill details are given below:
