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

    Oct 2, 2011, 12:02 AM
    Interest accrued on note payable
    "Interest accrued on 6-month note payable,issued jan 1,$300"

    From trial balance march 31 :notes payble $10,000

    ~could any one explain to me how it is incurred?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 2, 2011, 07:48 AM
    Debit Interest Expense for the amount of interest
    Credit Interst Payable for the amount
    umair223's Avatar
    umair223 Posts: 1, Reputation: 1
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    #3

    Oct 8, 2011, 03:51 AM
    Interest exp
    Interest payable

    The information you have entered is not valid
    Muhammad umair mba hahria university Islamabad 03459888223
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #4

    Oct 8, 2011, 03:30 PM
    The information I posted in my previous post is correct. Just ask an acocunting Professor or look in your accounting textbook.
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