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    topaz1839's Avatar
    topaz1839 Posts: 6, Reputation: 1
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    #1

    Apr 17, 2011, 08:52 PM
    How do I record a mortgage payment in a general ledger with a principal and a interest
    How do you record a mortgage payment in a general ledger that has a principal and a interest?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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
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