Accountancy, asked by ishuishuma0310, 8 months ago

Acurred interest journal entry

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Answered by Anonymous

26

Answer:

The amount of accrued interest is posted as accrual adjusting entries by both borrowers and lenders at the end of each month. The entry consists of an interest income. ... The borrower's entry includes a debit in the interest expense account and a credit in the accrued interest payable account.

Answered by aloli94

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