What is the difference between interest expense and interest payable?

Interest Expense is the figure that goes to the statement of comprehensive income..it is the accrued expense throughout the year while interest payable is the amount that is under the head Current liability in the Statement of financial position.. it can be calculated by adding op.payable interest expense for the year and subtracting the expense paid. it is the Closing Credit balance of the Accrued expense account.

Interest expense is an account on a business's income statement that shows the total amount of interest owing on a loan. Interest payable is an account on a business's income statement that show the amount of interest owing but not yet paid on a loan.

Interest Expense is for the incurred in the current financial period which Interest payable is an accrual

Interest expense are costs of borrowing funds that are charged as DR to the Statement of Comprehemsive Income for the particular period, while Interest payable are interests oustanding, yet to be paid to creditor, usually listed in the Statement of financial position as CR.

Interest Expense: Interest During a specific period.

Interest Payable: Current Due Interest.

interest expense is charging to Statement of profit and loss account and this is Dr while interest payable is liability and showing in Stateme of financial position and this is Cr.

interest expense is related to income statement account where it depicts that we had payed the said amount of interest on the borrowed amount while interest payable is our liablity that we have to pay on the borrowed amount and expense has been incurred

Interest expense is the interest payable on borrowed loan for example within fixed date and interest rate.

Interest payable is the sum of interest that indeed paid and appears in balance sheet.

Interest expenses are already we meet in the business. It was fully paid with vouchers but interest payable was not paid but still due on business

Interest expense is amount spent on incurring a loan Whilst interest payable is an amount to be paid as interest on a loan

Thank you for your kindness invitation.

I agree with all previous answers.

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