at 16% interest 3 years three months at 28% interest 4 years 4 months
40000 X .30 = 12000
30
Assuming that the interest is charged on the amount owed by Geeta for purchasing the goods, the journal entry would be: Debit: Accounts Receivable - Geeta (Rs. 40000) Credit: Sales Revenue (Rs. 40000) Credit: Interest Income (amount of interest charged)
in private- 8000-12000 rs per month and in govt.-30000-40000 rs per month
1 percent of 40000 = 4001% of 40000= 1% * 40000= 0.01 * 40000= 400
3.5% of 40000= 3.5% * 40000= 0.035 * 40000= 1400
22% of 40000= 22% * 40000= 0.22 * 40000= 8800
3.15% of 40000= 3.15% * 40000= 0.0315 * 40000= 1260
40000
4 x 10000
40000 is 400,00
2.4% of 40,000= 2.4% * 40000= 0.024 * 40000= 960