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Making adjusting entries for a change in interest rates

Asked Aug 22, 2009, 07:47 PM — 1 Answer
Hello:

I am trying to determine the correct adjusting entries to be made when interest rates change.

Thank you,

Julie

1 Answer
ROLCAM's Avatar
ROLCAM Posts: 1,437, Reputation: 250
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#2

Aug 23, 2009, 03:31 AM
Adjustments in Interest Amounts should be automatically picked up from the Bank Statements.
If any attempt is made in forecasting any
Changes, the real figures have to be adjusted to when revealed by the Bank.
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