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BUWANG TRADERS EXTRACT FROM THE LIST OF BALANCES AS AT 28 FEBRUARY 2024 R Fixed deposit: MAC Bank (14%) 750 000 Interest on fixed deposit
BUWANG TRADERS EXTRACT FROM THE LIST OF BALANCES AS AT 28 FEBRUARY 2024 R Fixed deposit: MAC Bank (14%) 750 000 Interest on fixed deposit 52 500 Additional information On 1 June 2023, Buwang Traders invested money in a three-year fixed deposit account with MAC Bank at 14% interest per annum. The interest is payable quarterly. Account for any outstanding interest. Required Using the information given, show the disclosure of the fixed deposit in the financial statements of Buwang Traders for the year ended 28 February 2024
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