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    accounting11's Avatar
    accounting11 Posts: 1, Reputation: 1
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    #1

    Nov 18, 2008, 02:36 AM
    Mortgage payable journalizing to a balance sheet
    I am trying to understand how to log mortgage payable to the balance sheet, presently the worksheet has 450, a note is that 200 is to be in the year.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Dec 12, 2008, 07:56 PM

    A mortgage Payable will go in up to 2 sections in the balance sheet

    1. The current portion due goes in current liabilities section.

    2. The portion over 1 year due goes in the long-term liabilities section.
    peterchan's Avatar
    peterchan Posts: 1, Reputation: 1
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    #3

    Feb 15, 2011, 08:43 PM
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