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Why Vann Company records the interest receivable

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Reference no: EM132593486

Question - Read the article below to answer the questions.

Article name - Jones, D. J. (2012). Visualizing accounting transaction flows into financial statements. American Journal of Business Education, 5(6), 753-757

Question 1) Why Vann Company records the interest receivable in August rather than waiting until the loan is due in November to record the interest?

Question2) What are the risks of waiting until November to record the interest revenue and cash receivable amount match?

Reference no: EM132593486

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