Tags Business Accounting and Bookkeeping

Animals & Plants Arts & Entertainment Auto Beauty & Health Books and Literature Business Electronics Engineering & Technology Food & Drink History Hobbies Jobs & Education Law & Government Math People & Society Science Social Studies Sports Travel & Places

0

Subjects>Business>Accounting

What is the journal entry for paying a notes payable and interest?

Updated: 4/28/2022

Wiki User

∙ 9y ago

Best Answer

Debit notes payable
debit interest expense
Credit cash /bank

Wiki User

∙ 9y ago

This answer is:

Add your answer:

Earn +20 pts

Q: What is the journal entry for paying a notes payable and interest?

Write your answer...

Submit

Still have questions?

imp

Continue Learning about Accounting

What is the journal entry of accrued interest?

[debit] Interest expense [credit]interest payable

What is the journal entry of interest due not paid?

debit interest expensecredit interest payable

What is the journal entry for interest on drawings?

Debit interest on drawingsCredit interest payable / cash

What is the journal entry for Interest due but not received?

debit interest receivablecredit interest income

What is the journal entry to record accrued interest expense?

Debit Accrued Interest Expense Credit Accrued Interest Payable

Related questions

What is the journal entry of accrued interest?

[debit] Interest expense [credit]interest payable

What is the journal entry of interest due not paid?

debit interest expensecredit interest payable

What is the journal entry for interest on drawings?

Debit interest on drawingsCredit interest payable / cash

What journal entry accrues interest expense?

DR - Interest Expense CR - Interest Payable

How do you make a journal entry recording an annual interest payment on a note payable?

debit interest expensecredit notes payable

What is the journal entry to record interest expense not yet paid?

debit interest expensescredit interest payable

What is the journal entry for Interest due but not received?

debit interest receivablecredit interest income

What is the journal entry to record accrued interest expense?

Debit Accrued Interest Expense Credit Accrued Interest Payable

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 income from note receivable?

[Debit] Accrued interest income [Credit] Notes payable

What is the journal entry for accrued interest expense on Notes Payable?

debit interest expense, credit interest payable for the accrued amount

What is the journal entry to record accrued interest on a mortgage?

(debit) interest income (credit) (debit) interest income (credit)

Trending Questions

What is the person called who writes out a cheque? Is collecting taxes a reserved power? Which describes the process by which employers must divide their costs into different categories? Who enforces fiscal policy? What is 2009 IRS gas mileage rate? How much money can you give someone and not have pay taxes? Disadvantage of database approach compared to the file processing approach? Explain the need for stock control? Can you pay your taxes separately if you filed jointly? How can you ask for copies of your Mortgage interest statements for previous years? What is the branch code for Absa heerengracht? If you income is your social security benefits do you have to file an income tax form? Why it is important to identify and agree user needs for an information system and have specifications based on them? Where do I send my federal tax return? How do you access your gottschalks credit card account? How much would taxes be on 13000? How long have debit cards been around? What the difference between prepaid and accrued expense and accounts payable? What can thermocolour sheet be used for? How do you file for renters rebate in Alabama?

Still have questions?

imp

Previously Viewed

What is the journal entry for paying a notes payable and interest?

Resources

Top Categories

Product

Company

Copyright ©2024 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.