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How do you record a loan to reflect on balance sheet


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On 8/20/2019 at 3:29 AM, Chinnie said:

Pls how do you record a loan so it reflects on your balance sheet as a liability 




Set up an accounts payable/loan account and then use the general journal to make the posting.  Debit Bank account and credit the accounts payable/loan account, hit enter and voila

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