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Debit Accounts Payable
Credit notes payable
What else can I help you with?
What is the journal entry for taking loan from bank?
When a business takes a loan from a bank, the journal entry would typically involve debiting the cash account and crediting the notes payable account. For example, if a company receives $10,000 in cash from a bank loan, the entry would be: Debit Cash $10,000 Credit Notes Payable $10,000 This reflects an increase in cash assets and an increase in liabilities due to the loan obligation.
How do you record a journal entry in QuickBooks?
To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.
Why a narrative should be shown as part of a journal entry?
It is impossible to remember the reason for every entry & the entries in the journal sometimes involve "out of the ordinary" transactions.
How can I properly record a journal entry for credit card rewards in my accounting records?
To properly record a journal entry for credit card rewards in your accounting records, you should debit the rewards earned to an account called "Credit Card Rewards Earned" and credit the same amount to a liability account called "Credit Card Rewards Payable." This way, you can track the rewards earned and the amount owed to you by the credit card company.
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.
How do you record journal entry to increase notes payable?
debit cashcredit notes payable
What the journal entry to record a note payable?
debit Cashcredit notes payable
What is the journal entry to discount notes payable?
debit cashdebit discount chargescredit notes payable account
Journal entry to record the conversion of an 250 accounts payable to a notes payable?
debit accounts payable 250credit notes payable 250
What is the journal entry for issued a note payable?
debit accounts payablecredit notes payable
What is the journal entry for paid notes payable?
Debit notes payableCredit cash / bank
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 for paying a notes payable and interest?
Debit notes payabledebit interest expenseCredit cash /bank
What is the journal entry for borrow from bank and signed note payable in return?
Entry 1 [Debit] Cash xxxx [Credit] Bank xxxx Entry 2 [Debit] Bank xxxx [Credit] Notes payable 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 electricity payable?
Debit electricity expensesCredit expenses payable
What is the journal entry for accrued interest expense on Notes Payable?
debit interest expense, credit interest payable for the accrued amount
