Читать книгу QuickBooks 2022 All-in-One For Dummies - Nelson Stephen L., Stephen L. Nelson - Страница 75
Borrowing money
ОглавлениеLiabilities, fortunately, aren’t too tricky to record after you’ve seen how the journal entries look. Table 3-13, for example, shows how you record money borrowed on a loan. In the case of a $10,000 loan, you would debit cash for $10,000 and credit a loan payable liability account for $10,000.
TABLE 3-13 Journal Entry 13: Borrowing Money via a Loan
| Account | Debit | Credit |
|---|---|---|
| Cash | $10,000 | |
| Loan payable | $10,000 |
Sometimes, you may purchase an asset with a loan. Suppose that you purchased $10,000 worth of furniture by using a note payable or a loan. Even though there’s no immediate cash effect, you still record the transaction. Table 3-14 shows how you record this transaction. A furniture account gets debited for $10,000, and a loan payable account gets credited for $10,000.
TABLE 3-14 Journal Entry 14: Buying an Asset with a Loan
| Account | Debit | Credit |
|---|---|---|
| Furniture | $10,000 | |
| Loan payable | $10,000 |
You can record Journal Entry 13 directly in your checkbook when you record the $10,000 cash deposit. You can also record Journal Entry 13, as well as Journal Entry 14, by using the Make General Journal Entries command that QuickBooks provides. By the way, you can record Journal Entry 14 only by using the Make General Journal Entries command.
