Accrued interest is the amount of loan interest which has accumulated since the initial loan or since the last loan payment, which interest has not been paid. In other words, interest which is due but has not been paid.
For the borrower the accrued interest amount is recorded as a current liability on the balance sheet and as interest expense on the profit and loss statement.
For the borrower the accrued interest amount is recorded as a current liability on the balance sheet and as interest expense on the profit and loss statement.
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