How do I journalize this entry?
A company received $10,000 from the owner's parents as a loan. The company must repay this money at the end of 5 years. The annual interest rate is 5%.
Thanks for any help!
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What is the repayment period?
Originally Posted by dimpleyy How do I journalize this entry? Please define "journalize".
Like, do you mean more than 1 entry, as example the annual "expense" GL entry?
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