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    karan1234's Avatar
    karan1234 Posts: 1, Reputation: 1
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    #1

    May 16, 2012, 12:39 PM
    Journal entry to issue a note
    A company issued a $20,000, three month,5% note to other company in payment of an account. Interest is payable monthly.. how to enter it??
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    May 16, 2012, 12:45 PM
    Debit Accounts Payable for $20,000
    Credit Notes Payable for $20,000
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