DFS - Interest
BGTech
Registered Posts: 2 New contributor 🐸
Does anyone know why when dealing with unpaid interest charges the jounal is
DR interest X
CR interest payable X
But then interest payable does not show up again and we end up using accruals anyway?
DR interest X
CR interest payable X
But then interest payable does not show up again and we end up using accruals anyway?
0
Comments
-
Hi
It's because interest payable goes under the heading of trade and other payables as does accruals
You just need to show in your workings that you have grouped them all together under the one heading. Good luck in the exam, not long now! 0
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