journal entry for loan payments

lvennes · #1 Apr 5, 2007, 02:57 PM

How do I make the journal entries when a payment is made on a loan.

CaptainForest · Apr 5, 2007, 04:03 PM

Dr. Interest Expense
Dr. Interest Payable (maybe, depends on case facts)
Dr. Loan Payable
Cr. Cash



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