Mes: marzo 2021

Accrued interest is the amount of interest that has accumulated on a debt since the last interest payment date. An entry consists of interest income or interest expense on the income statement and an asset or liability account on the balance sheet. Accrued interest is usually received or paid within one year and is therefore classified … Leer más

One week later, they found out that 20% of the product has a technical issue which needs to adjust by the factory. Due to the warranty, ABC decides to send the products back to the supplier on 10 Jan 202X. By using the data of the above example, we will clarify it with journal entries.. … Leer más