Question

In one sentence, describe what happened economically to cause the following JE: Dr. Loan Payable $16,000 Cr. Cash $16,000
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Ans:

Following accounting entry is used to account for the repayment of loan.

Repayments reduce the amount of loan payables recognized in financial statements.

Add a comment
Know the answer?
Add Answer to:
In one sentence, describe what happened economically to cause the following JE: Dr. Loan Payable $16,000...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT