FRLoan given to subsidiry at aquisition

Yes, need to cancel the receivable and the payable.

As for interest, need possibly to accrue ( for interest accrued not yet paid - or equally for interest due, not yet recognised by the lender.)

In addition, there could be a payment of interest and / or capital in transit from borrower to lender at the year end. In that case, we'll need to accelerate the in transit into the records of the lender, and then cancel

sorry, should have also said that the interest expense in the borrower should be deducted from the finance charges of the borrower and the interest received / receivable should be eliminated from the finance income in the lender's I/S

thanks Mike!!!

welcome