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

    Nov 8, 2015, 02:09 AM
    Mortgage Payment
    How would you post in the General Ledger a mortgage payment of $3890, when $1,910 represents a reduction in the principal and the remainder is interest?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Nov 10, 2015, 03:02 PM
    You debit the mortgage liability for the repayment of principal and interest expense for the interest and creditt cash for funds received
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