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Educogym
Nov 6, 2009, 12:51 PM
Hello,

What is the entry for Auto Loan Repayments.
Is this an expense?

Thanks

Stephen.
pready
Nov 6, 2009, 04:00 PM
Acttually you will have 2 entries. One will be to debit your liability account for the principal part of the payment and one will be debit interest expense for the interest part of the payment.