ACCOUNT NO. 3310, ACCRUED INTEREST PAYABLE - 10447

Normal Balance: Credit

Purpose: This account shows the amount of accrued interest payable on bonded indebtedness, or similar obligations of the State. 

Normal Entries:

When accrued interest is recorded, this account is credited and an appropriate expenditure account is debited. When the interest is paid, this account is then debited. No standard entries are shown.