Cobalt SA holds a credit-impaired loan (stage 3), measured at amortised cost, whose gross carrying amount is 900,000 and whose loss allowance is 300,000. The annual effective interest rate given by the case is 5 %. Case convention: the interest of the period is added to the carrying amount of the loan. Record the entry for the interest income of the period.
- Gross carrying amount
- 900,000
- Loss allowance
- 300,000
- Effective interest rate
- 5 %