I need to book a loan payable.

It was cash which was spent so I never deposited any money.

If I credit loan payable what do I debit?

Draw or contribution?

Quote:

---

Originally Posted by cindymike

I need to book a loan payable.

It was cash which was spent so i never deposited any money.

If i credit loan payable what do I debit?

draw or contribution?

---

What did you do with the money, did you generate an asset or expense of the business or use a business laon for personal expenditure?