HI!
When should we recognize interest income on loans in the books of accounts? Last day of the month to which interest belongs or 1st day of the month following the month to which interest belongs? e.g. if Interest belongs to April month option 1 on 30th April option 2 on 1st May.
Last day of the Month.
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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Shyam Joshi & Associates
Pune
B.Com
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