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-   -   Final loan payment left balance; what is my journal entry to zero out loan (https://www.askmehelpdesk.com/showthread.php?t=803444)

  • Oct 23, 2014, 09:57 AM
    kimd82414
    Final loan payment left balance; what is my journal entry to zero out loan
    I made the final payment on a loan. There is a .03 balance. How do I adjust for the .03 balance.
  • Oct 25, 2014, 02:30 AM
    paraclete
    You have heard of materiality, haven't you? No matter what account you transfer the amount to, it is immaterial but for the sake of accuracy transfer it to loan repayments with the notation adjustment.

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