Beneficial loan interest calcs | AccountingWEB

Beneficial loan interest calcs

Directors loan in credit until July & then increasingly overdrawn until 5th April. Does average interest get worked out over 12 months or over the 8 months that the loan was overdrawn - i.e. opening Nil + closing bal / 2, or is it opening Nil + closing bal / 2 x 8/12's?

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Beneficial loan

nilesh_m |