How to find accured intrest in income and expenditure account
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Accrued interest is calculated based on the last day of the accounting period. For example, if interest is payable on the 20th of each month and the accounting period is the end of each calendar month, the month of April will require an accrual of 10 days (21st to the 30th) of interest.
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Accrued interest on income = Total income - Income not yet received
Accured interest on expenditure = total exp. - oustanding Expenses
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