Build your business, grow your wealth.
If you borrow money from a bank and you make a payment on the account, does your A/P (bank loan) and cash account both decrease?Hi,Thanks for your inquiry. Yes, payments made against the bank loan would result in a decrease to both the cash account and loan account.
Click here to post comments
Join in and write your own page! It's easy to do. How? Simply click here to return to Bookkeeping Questions and Answers.
How are Bank Deposit account, Dividends Paid, Loan Stock & Interest on Debentures recorded in the Trial Balance? Which do you debit and which do you credit?Thanks.
Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.
Feb 17, 17 02:28 PM
Schedule Your Bookkeeping Appointment Online Now. Quick and Easy Online Bookkeeping Scheduling System.
Oct 31, 15 08:34 PM
Bookkeeping Services and Retirement Plans: Have you asked your bookkeeper about selecting the right employee retirement plans
I started this labor of love in 2008. Thank you for making it one of the top visited sites about bookkeeping.
And thank you to "SBI!," which made it possible.
When you are in need of a bookkeeper, give me a call! Until then, I'd love to hear from you right here.
Home - Blog - About Me - Contact Me - Disclaimer - SiteMap - SiteSearch - Ezine