Accrued Interest: Accrued Interest is an interest which has already been earned but has not yet been received. This generally happens when the due date for receiving interest falls beyond the accounting period. In accrual basis of accounting, this accrued interest is required to be recorded in the year in which it is earned. To discuss: The reason for recording Accrued Interest Revenue at the end of the accounting period

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Chapter 9, Problem 21RQ

To determine

Accrued Interest:

Accrued Interest is an interest which has already been earned but has not yet been received. This generally happens when the due date for receiving interest falls beyond the accounting period. In accrual basis of accounting, this accrued interest is required to be recorded in the year in which it is earned.

To discuss:

The reason for recording Accrued Interest Revenue at the end of the accounting period

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