ADAM TRADERS EXTRACT FROM THE LIST OF BALANCES AS AT 28 FEBRUARY 2024
R
Fixed deposit: NFB Bank (18%)
935 000
Interest on fixed deposit
84 150
Additional information
On 1 June 2023, Adam Traders invested money in a three-year fixed deposit account with NFB Bank at 18% 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 Adam Traders' financial statements for the year ended 28 February 2024.