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    Educogym's Avatar
    Educogym Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 6, 2009, 01:51 PM
    Auto loan repayments
    Hello,

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

    Thanks

    Stephen.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Nov 6, 2009, 05:00 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.
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