Para 6.5 — MSO

6.5 The columns under "Date and Voucher", "Account of Principal of Loan" and "Account of Interest Demand" in the register referred to in the preceding paragraph should be filled in as soon as the transactions are reported from the bank sheet or the Cash Account or the transfer entry for the adjustment of the periodical interest on the Deposits of the Sinking Fund is made. The calculation of interest will be made at the same time. It will be observed that these columns show the interest that will be chargeable on the next periodical day and that the amount of interest deduced from them is not actually debitable against the borrower until the next periodical day.

A loan bears interest for the day of advance, but not for the day of repayment.