Trial Balance

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.

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Trial Balance Debits & Credits

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.

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