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Accrued Interest & Debt Rollforward
As of May 31, 2022
				Loan Statement							Accrual
				Period Covered					Accrual/Expense Period
Accrual Acct #	Account Description	Loan Acct #	Description	Start Date	End Date	Total Amount	Covered Days	Daily Amount	Start Date	End Date	Rate	Principle	Total Amount
2225-00	Accrued Interest-NP	2108-00	Note Payable-Affiliate	12/2/2021	12/31/2021	1,980.00	30	66.00	12/2/2021	12/31/2021	0.330%	7,300,000.00	(1,980.00)
2225-00	Accrued Interest-NP	2108-00	Note Payable-Affiliate	1/1/2022	1/31/2022	2,046.00	31	66.00	1/1/2022	1/31/2022	0.330%	7,300,000.00	(2,046.00)
2225-00	Accrued Interest-NP	2108-00	Note Payable-Affiliate	2/1/2022	2/28/2022	1,848.00	28	66.00	2/1/2022	2/28/2022	0.330%	7,300,000.00	(1,848.00)
2225-00	Accrued Interest-NP	2108-00	Note Payable-Affiliate	3/1/2022	3/31/2022	2,046.00	31	66.00	3/1/2022	3/31/2022	0.330%	7,300,000.00	(2,046.00)
2225-00	Accrued Interest-NP	2108-00	Note Payable-Affiliate	4/1/2022	4/30/2022	1,980.00	30	66.00	4/1/2022	4/30/2022	0.330%	7,300,000.00	(1,980.00)
2225-00	Accrued Interest-NP	2108-00	Note Payable-Affiliate	5/1/2022	5/31/2022	2,046.00	31	66.00	5/1/2022	5/31/2022	0.330%	7,300,000.00	(2,046.00)
Total Monthly Accrual											Acct #	2225-00	(11,946.00)
											Per TB		(9,900.00)
											Variance		(2,046.00)
Penzance Test
Debt Schedule
As of May 31, 2022
		2108-00
		TOTAL
Date	Description	Note Payable-Affiliate
12/2/2021	Note Payable	7,300,000.00
	Total	7,300,000.00
	Per TB	7,300,000.00
	Variance	-

Intructions

1) If current loan statement is available, post accrued interest according to the amount shown on loan statement by inputting data in the blue cells under Step # 1
2) If loan statement is unavailable, Acountant should complete the cells in blue under Step # 2 and include supporting invoices/budget amounts in PDF package for manager to use during review.
Loan balance should tie to most recent loan statement. Interest rate should agree to (1) loan debriefing memo or (2) loan statement.
If variance exists, Accountant should correct the variance or add an explanation. Accountant and Manager to confirm the loan statement or recalculated amounts agree to the trial balance w/o/e.
Accountant should verify schedule ties back to the trial balance w/o/e. Manager to confirm this.
Account should verify schedule ties to the loan statements w/o/e. Manager to confirm this.

Answer & Explanation Solved by verified expert

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