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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?
debit interest receivablecredit interest income
What is the journal entry to record an accrued exp?
debit: expense account credit: account payable (vendor)
How do you record payment of debenture interest?
To record the payment of debenture interest, you need to make a journal entry that debits the interest expense account and credits the cash account. This reflects the outflow of cash for the interest payment. Additionally, if the interest is accrued but not yet paid, you may also need to adjust the accrued interest payable account accordingly. Always ensure that the amount recorded matches the terms specified in the debenture agreement.
How can accountant record interest payment?
An accountant can record an interest payment by making a journal entry that debits the interest expense account and credits the cash or bank account. This reflects the outflow of cash and recognizes the cost of borrowing. If the interest is accrued but not yet paid, the accountant would debit the interest expense and credit an interest payable account instead. This ensures that the financial statements accurately reflect the company's financial position.
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?
debit interest receivablecredit interest income
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 to record an accrued exp?
debit: expense account credit: account payable (vendor)
Journal entry to record an accrued vacation expense?
Though I have never heard the term "accrued vacation expense" nor have I ever heard of a "vacation" being a business expense, however, the journal entry would be handled like most "payables". So if your company uses the account of Accrued Vacation Expense, the journal entry should be something like....Vacation Expense (debit) $XXXAccrued Vacation Expense (credit) $XXXOnce the amount is paid, a debit would be recorded in the Accrued Vacation Expense account and a credit to Cash, to remove it from the books and note that the debt (or expense) has been met.
How do you record payment of debenture interest?
To record the payment of debenture interest, you need to make a journal entry that debits the interest expense account and credits the cash account. This reflects the outflow of cash for the interest payment. Additionally, if the interest is accrued but not yet paid, you may also need to adjust the accrued interest payable account accordingly. Always ensure that the amount recorded matches the terms specified in the debenture agreement.
What is the journal entry to record interest expense not yet paid?
debit interest expensescredit interest payable
How can accountant record interest payment?
An accountant can record an interest payment by making a journal entry that debits the interest expense account and credits the cash or bank account. This reflects the outflow of cash and recognizes the cost of borrowing. If the interest is accrued but not yet paid, the accountant would debit the interest expense and credit an interest payable account instead. This ensures that the financial statements accurately reflect the company's financial position.
What is the journal entry to record accrued interest?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
What is the journal entry to record accrued interest on a mortgage?
(debit) interest income (credit) (debit) interest income (credit)
What is the journal entry to record interest expense and bond premium?
debit interest expensedebit bond premiumcredit cash
What is the journal entry to record accrued interest income from bonds?
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
