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Does interest payable a debit or credit?
Interest payable is debit.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
Does a debit memo increase or decrease a accounts payable balance?
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
Which entries records the payment of an account payable?
Debit (decrease) accounts payable and then credit (decrease) cash.
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
Does interest payable a debit or credit?
Interest payable is debit.
A decrease to accounts payable is a debit or credit?
debit
What is the journal entry for accrued interest expense on Notes Payable?
debit interest expense, credit interest payable for the accrued amount
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
Does a debit memo increase or decrease a accounts payable balance?
The accounts payable balance is a credit, so a debit to this account will decrease the balance.
Which entries records the payment of an account payable?
Debit (decrease) accounts payable and then credit (decrease) cash.
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
What is the journal entry to record accrued interest on a mortgage?
(debit) interest income (credit) (debit) interest income (credit)
What is the journal entry of accrued interest?
[debit] Interest expense [credit]interest payable
Is a Decrease in Interest Receivable a credit or debit?
a decrease in a receivable is a decrease in an asset therefore its a credit.
What accounts decrease with debit is it interest payable or prepaid insurance or cash?
cash
Does sales tax payable have a normal credit balance?
All payable maintain a credit balance. A payable is a liability account and therefore like a liability does increase with a credit and decrease with a debit.
