Why vann company records the interest receivable in august

Reference no: EM132594211

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?

Question 2) What are the risks of waiting until November to record the interest revenue and cash receivable amount match?

Read the article below to answer the questions

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

Reference no: EM132594211

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