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Medha Ltd. took a loan from bank for ₹ 10,00,000 to be settled within 5 years in 10 equal half yearly instalments with interest. First instalment is due on 30.09.20 20 of ₹ 1,00,000. Determine how the loan will be classified in preparation of Financial Statements of Medha Ltd. for the year ended 31st March, 2020 according to Schedule III. Anyone give answer for this question chapter company final accounts

Asked by Saikumar10 Sept 2024338 views

1 answer

  1. Sujal · 10 Sept 2024

    2,00,000 as short-term borrowings as such amt will be paid within 1 yr...& 8,00,000 as long term borrowings (bal.amt) as to be repaid after 1 yr. !!!

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