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Loan Interest

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Apr 08, 2011
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starstarstarstar 		Accounting For Loan Interest
by: Stephanie

Hi,

Thanks for the question. If you are needing to make an adjusting entry to account for the interest portion of payments paid on a loan the entry would be:

DEBIT LOAN INTEREST EXPENSE
CREDIT LOAN PAYABLE

This is if the principal and interest payments were originally posted together through the loan payable account.

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