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What is a interest bearing note payable?
Is interest deduct before the note payed out.
1 When a corporation pays a note payable and interest?
Debit notes payable and interest expense
How do you make a journal entry recording an annual interest payment on a note payable?
debit interest expensecredit notes payable
Interest bearing note payable?
current assets
Maturity value of an interest-bearing note payable is the?
Face value plus interest.
Interest due on a note payable?
soes big lot have any notes payable if so when are they due and what interest rate are they paying back.
What are the accounting journal entries for payment in kind interest on a note?
debit interest in kindcredit notes payable
What is the difference between the amount received from issuing a note payable and the amount repaid is referred to as?
Interest.
Micro Fish Company recognized 10000 of interest expense in 2007 The balance of the company's interest payable account decreased 2000 The amount of cash paid by the company for interest in 2007?
Company has paid 2000 cash for interest due to which interest payable reduced by 2000.
Can short-term notes payable be replace as an account payable?
Generally as a rule this does not happen. Notes Payable refer to a liability that will be paid off in more than a year. An account payable is a liability that will be paid off in less time than that, within one year or less (or accounting period). It is generally easier to take an account payable and convert it into a note payable and really pointless to do the reverse.A note payable involves a promissory note, while an account payable does not. Even if the company chooses to pay off the note payable earlier than expected, there is no real reason to convert it from a note payable to an account payable, if they wish to do this to try and save on interest expense that is pointless as well, if the note is paid off early, then the company will not be charged the full interest anyway.Now to really specify the answer to your "exact" question. A short-term note is an account payable. They are one in the same. A short-term note payable is a payable that is expected to be paid off with in one year or less.
What is the journal entry to record accrued interest income from note receivable?
[Debit] Accrued interest income [Credit] Notes payable
Does interest payable a debit or credit?
Interest payable is debit.
