Debit cash / bank
Credit loan from bank
[Debit] Cash / bank [Credit] loan from bank
debit cash /bankcredit loan payable
Debit: Deferred loan origination fees Credit: Interest income
Drawings in accounting are recorded as a double entry in the cash book. This is a credit to the bank account and a debit to the cash account.
Debit prepaid inventoryCredit cash / bank
Debit bank a/c Credit loan a/c
Dr Cash Cr Bank Over Draft
cash------debit Account payable----Credit
[Debit] Equipment 32500 [Credit] Cash 6000 [Credit] Loan from bank 26500
[Debit] Cash / bank [Credit] loan from bank
One could find a loan finder at perhaps a bank with people specialized in loans. Or one could go to an accounting firm and speak to a professional in the field of accounting and finance
The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.
Debit cash / bank 45000Credit loan account 45000
debit cash /bankcredit loan payable
Debit: Deferred loan origination fees Credit: Interest income
Drawings in accounting are recorded as a double entry in the cash book. This is a credit to the bank account and a debit to the cash account.
When the money for the loan is received it is recorded as cash. Payments are not recorded until the actual payments are sent out. This will be recorded as a debit to a loan expense account and credited directly to cash. The interest is debited directly to an interest expense account and credited directly to cash for the same payment. A compound entry can be used for this purpose. There is no loan payable or interest payable accounts for cash basis accounting.