Accountancy, asked by roshan2759, 1 year ago

intrest on loan it debit or credit ​

Answers

Answered by bharatpatadia74
0

Answer:

Record the Loan Interest

In your bookkeeping, interest accumulates on the same periodic basis even if the interest is not due. This interest is debited to your expense account and a credit is made a liability account under interest payable for the pending payment liability.

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