Hello,
I am in confused about the registration of accured interest payable.I mean where accured interest payable should be recorded?
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Hello,
I am in confused about the registration of accured interest payable.I mean where accured interest payable should be recorded?
It should be recrded in the GENERAL JOURNAL.
DEBIT INTEREST PAID account XXXX
CREDIT AMOUNTS PAYABLE account XXXX
Being the amount of interest that has to be accrued to balance date.
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