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Subject Topic: Accrued Interest (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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oceana142
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Posted: 30 Apr 2012 at 17:22 | IP Logged  

Let's say you have two loans.  One is a revolver and the other is a mortgage with an amortization schedule. 

I know to accrue the interest from the revolver that has been incurred but not been paid at the end of a fiscal period.  But what about the mortgage? 

I have the mortgage principal in an account but do I also have to book accrued interest for it ?  Payment is due the tenth of every month.  Would I also book 10 days of interest to an accrued interest account?

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