Interest accrued and due
This query is : Resolved
30 November 2011
what is the difference between Interest accrued and due & Interest accrued but not due.Please explain with example and interest accrued and due falls under which head. Thanks in advance.
30 November 2011
Interest accrued and due means time given pay interest is over interest accrued but not due means interest computing period is over but their is time to payment. For example the interest calculating on last day of every month(30th or 31st as the case may be) and the time given to pay up to 5th of the next following month. in such case from 1st of the following month called interest accrued but not due from 6th of the following month onwards interest accrued and due. Both are shows as income/expenses what ever may be but interest accrued and due is called as overdue interest.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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