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

    Sep 8, 2010, 02:20 AM
    How to pass the down payment entry
    We take a loan, how to pass the down payment entry
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Sep 8, 2010, 06:44 AM

    Debit Notes Payable for the amount of principal paid
    Debit Interest Expense for the amount of interest
    Credit Cash for the total payment.
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