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What is the journal entry for mortgage loan in accounting books?
Wiki User
∙ 9y ago
For a mortgage payment, the only amount that should be listed in the Mortgage Loan Payable section is the principal amount. Any interest that has accrued is reported as Interest Payable.
Wiki User
∙ 9y ago
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Matching in accounting means to make an entry in the journal?
Matching" in accounting means to make an entry in the journal
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
Why do you need to reverse a journal entry?
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
What is the basic summary device of accounting?
account or accounting equation
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
What are examples of books of original entry?
Examples of books of original entry are the sales day book, the purchases day book, the sales returns book, the purchases day book, the journal, and the cash book. These are books used in accounting.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What is a compound entry?
Accounting: A journal entry that has more than one debit or credit value
Accounting where would you put a bad debt entry?
In the Journal Proper
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
What is the journal entry to record mortgage revenue?
debit cash / bank / accounts receivablecredit mortgage revenue
