Interest on Loan during Moratorium Period
This query is : Resolved
18 August 2022
Can anyone please guide me regarding the journal entry for Interest on Loan during the Moratorium Period? As interest gets added to the principal outstanding amount, we can not claim it as an indirect expense under the profit and loss account. Then do we have to capitalise the interest amount as we need to balance the loan account as well?
18 August 2022
As per accounting standard 10, you can capitalize the interest.
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