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View Full Version : How do I record a mortgage payment in a general ledger with a principal and a interest


topaz1839
Apr 17, 2011, 08:52 PM
How do you record a mortgage payment in a general ledger that has a principal and a interest?

pready
Apr 18, 2011, 08:11 AM
Debit Mortgage Payable for the amount of principal paid
Debit Interest Expense for the amount of interest paid
Credit Cash for the total amount paid