I need a explanation for this 02 question for a test I will have .
1 answer:
You might be interested in
Hi, you've asked an incomplete question. However, I inferred you want to know the type of accounting activity involved in this process.
Answer:
<u>CALCULATING</u>
Explanation:
The process of imposing a 10% interest rate of course would require <em>calculating </em>how much cash value is to be deducted from the "new salary loan" of the respective accounts in the "BPI Family Bank".
This process in accounting often involves computing the individual loan amount multiplied by the interest percentage. For example, a 10% interest rate on a salary loan of $2000 would be = $200