Explain why no interest expense is recorded at the time a company takes out a new loan.

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Explain why no interest expense is recorded at the time a company takes out a new loan. Also explain when interest expense should be recorded.

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Understanding Financial Accounting

ISBN: 9781119406921

2nd Canadian Edition

Authors: Christopher D. Burnley

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Question Posted: Jul 19, 2019 07:43 AM

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Explain why no interest expense is recorded at the time a company takes out a new loan.

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At the date the loan is taken out no interest has b...View the full answer

Understanding Financial Accounting

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