Hello sir
Why does interest charged on overdue accounts found in receivables control account was it not supposed to be found in payables control account?
I did a question in bpp and had to correct errors and interest charged on overdue accounts was found on the credit side
The correct entry was to debit it
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Control account
5y ago#1It depends whether it is interest the company is charging on overdue receivables, or whether it is interest the company is being charged on overdue payables.
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