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Bank Loan Interest — Monthly Accrual
Accruing monthly interest on the outstanding bank term loan balance.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Interest Expense (Bank Loan) | Expense (+) | 416,667.00 | - |
| Accrued Interest Payable (Bank Loan) | Liability (+) | - | 416,667.00 |
💡 Accountant's Note
A JOD 100M loan at 5% p.a. accrues JOD 416,667/month. The monthly accrual is settled on the quarterly interest payment date.
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