debit Cashcredit notes payable
debit accounts payablecredit notes payable
debit interest expensecredit notes payable
Entry 1 [Debit] Cash xxxx [Credit] Bank xxxx Entry 2 [Debit] Bank xxxx [Credit] Notes payable xxxx
cash book
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
[Debit] Accrued interest income [Credit] Notes payable
[Debit] Purchases xxxx [Credit] Cash/bank xxxx (For Down payment) [Credit] Notes Payable xxxx
Debit accounts payableCredit notes payable
Debit electricity expensesCredit expenses payable
debit accounts payable 250credit notes payable 250
Debit commission expenseCredit commission payable