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Which of Notes Payable Cash Interest Expense and Dividends are decreased with a debit?
Wiki User
∙ 16y ago
Notes Payable - I hope that wasn't for an exam.
Wiki User
∙ 16y ago
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What journal entry accrues interest expense?
DR - Interest Expense CR - Interest Payable
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.
1 When a corporation pays a note payable and interest?
Debit notes payable and interest expense
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 expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
Is accrued expense a financial liability?
If you are doing adjusting entries, an accrued expense will affect a balance sheet account (payable) and an income statement account (expense). Such as accrued interest at the end of year would be: Interest Expense (Debit) Interest Payable (Credit)
What is the journal entry of accrued interest?
[debit] Interest expense [credit]interest payable
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
What are the proper Accounting journal entries for dividends payable?
[Debit] Dividend expense [Credit] Dividend payable 2nd entry at time of payment Debit Dividend payable Credit Cash
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
Are dividends payable an expense or owner equity?
Dividend payable are from current year's net income portion it is liability of business as soon as dividend declared.
