Para 6.10 — MSO

PERIODICAL MAKING UP OF THE ACCOUNT 6.10 After all entries upto but not including the date on which interest becomes due have been made, a line will be drawn across the page. First the interest account of the past helf-year must be made up by deduction of the amount paid on account of interest from the demand on that account entered in the "Amount due" column and by bringing down "Balance of Interest Due". Then a calculation must be done of the interest to be demanded or any overdue interest of the previous halfyear. Lastly, in the case of Register in Form A, the second and third columns of the "Calculation of Interest on Principal" must be totalled and the excess of the total of the second over the total of the third carried into the "Amount due" column. The total interest due and the total principal due will then be made up and the account will be opened for a new period. The account of Sinking Fund in form B will be similarly completed, at the same time, the amount of interest due being credited at the end of the period.

If the interest is payable yearly, instead of half-yearly, the account will be made up only once a year.