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    barbajan's Avatar
    barbajan Posts: 2, Reputation: 1
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    #1

    Feb 9, 2016, 08:11 PM
    Accounts Basic
    The 5 year long-term loan has a rate of 10%, semi-annual payments of interest and principal on March 31, and September 30. Payments commence from the 2016 year. Loan of $10,000...What adjustments will be needed if you recording on Dec 31, 2016
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Feb 9, 2016, 09:39 PM
    Well, what do you think? You have the loan $, the rate and payment dates.
    barbajan's Avatar
    barbajan Posts: 2, Reputation: 1
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    #3

    Feb 10, 2016, 03:28 AM
    Quote Originally Posted by ma0641 View Post
    Well, what do you think? You have the loan $, the rate and payment dates.
    Notes payable 2,000
    Interest payable 1000
    Cash 3000
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #4

    Feb 10, 2016, 05:02 PM
    Quote Originally Posted by barbajan View Post
    Notes payable 2,000
    Interest payable 1000
    Cash 3000
    Where did these numbers come from, they were not on the original post?
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