When you borrow money, you not only pay interest but also track the interest in your ledgers. Interest Payable is the account for recording interest you owe but haven't yet paid. You can find an ...

When you take out a loan, or carry a balance on a credit card, the interest accrues constantly. However, if you make regular payments, this interest isn't compounded. For this reason, calculating the ...

Calculating interest expense on a payable bond should be relatively straightforward, but then the accountants got involved. Generally accepted accounting principles, or GAAP, turn what is ordinarily a ...