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Mike_James
Ultimate Cover User
4 months ago

Re: Accrued Interest to Loan account

Hi Fran_29 , it is correct to show the interest as an expense,  as it relates to the period. The credit to the loan account shows that the business owes that amount, and it will remain there until it can be paid. The payment will debit the loan account, reducing the balance.

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Hi Fran_29 , it is correct to show the interest as an expense,  as it relates to the period. The credit to the loan account shows that the business owes that amount, and it will remain there until it can be paid. The payment will debit the loan account, reducing the balance.

","body@stringLength":"475","rawBody":"

Hi , it is correct to show the interest as an expense,  as it relates to the period. The credit to the loan account shows that the business owes that amount, and it will remain there until it can be paid. The payment will debit the loan account, reducing the balance.

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url(\"data:image/svg+xml;charset=utf8,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 24 24'%3E%3Ctitle%3EAsset 5%3C/title%3E%3Cg id='Layer_2' data-name='Layer 2'%3E%3Cg id='Layer_1-2' data-name='Layer 1'%3E%3Cpath d='M12,24A12,12,0,1,0,0,12,12,12,0,0,0,12,24Zm1.82-10.71a1.2,1.2,0,0,0-1.2,1.2v4.2h-3s0-7.2,0-7.8h3v.89A3.72,3.72,0,0,1,15,10.91c1.78,0,3,1.29,3,3.78v4H15v-4.2A1.2,1.2,0,0,0,13.82,13.29ZM6.91,9.69h0A1.47,1.47,0,0,1,5.4,8.2,1.44,1.44,0,0,1,6.93,6.75a1.47,1.47,0,1,1,0,2.94Zm1.51,9h-3v-7.8h3Z' style='fill:%23687480'/%3E%3C/g%3E%3C/g%3E%3C/svg%3E\")\n no-repeat;\n}\n\n.myob-social-links .instagram a:before {\n background: 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