Is interest on loan an expense or a liability....Please help

Question

asked Aug 18, 2023 75.4k views

1 Answer

Alchi Baucha · Answer 1 · 2023-08-22T02:35:47+0000

Answer:

expense

explanation :

when we're about loan we are talking about a business or a person who is taking a loan. in this case the person or the firm pay interest on the loan.