The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
debit interest in kindcredit notes payable
Entry reversal are used for entries that accrue interest revenue on notes receivable. This method is commonly used to year-end adjustments.
Debit- Interest incomeCredit- accrued interest, but uncollectedIf ALLL accounts for accrued interest, for prior periods you can debit the ALLL, credit accrued interest, but uncollected.
Adjusting entries are recorded in the adjusted Trial Balance. The adjusted entries may be accrued revenues that are not recorded but earned and accrued expenses that include wages, commissions, interest, etc.
Pik pik!
The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
debit interest in kindcredit notes payable
Debit Interest Expense and Credit Bond Payable.
PIK Group was created in 1994.
The population of PIK Group is 14,263.
Johnny Pik is 5' 10".
Tang Pik-wan died on 1991-03-25.
Pik Botha was born on April 27, 1932.
Pik Botha was born on April 27, 1932.
/,pik-che-'resk/
Pik-Sen Lim was born in 1944.