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  • 010 - Loan Payable N

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    Thelma Dancel
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    Loan Payable is an account used to record amounts owed to lenders, including the original loan principal and any interest revenue generated over time from outstanding balances. For example, if someone borrowed $100 from John at a 10% interest rate, the Loan Payable account would include the $100 principal plus any periodic interest charges added to the balance owed.

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    Loan Payable is an account used to record amounts owed to lenders, including the original loan principal and any interest revenue generated over time from outstanding balances. For example, if someone borrowed $100 from John at a 10% interest rate, the Loan Payable account would include the $100 principal plus any periodic interest charges added to the balance owed.

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    6 views1 page

    010 - Loan Payable N

    Uploaded by

    Thelma Dancel
    Loan Payable is an account used to record amounts owed to lenders, including the original loan principal and any interest revenue generated over time from outstanding balances. For example, if someone borrowed $100 from John at a 10% interest rate, the Loan Payable account would include the $100 principal plus any periodic interest charges added to the balance owed.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Loan Payable is an account payable that you register the amount that you have to pay to someone that

    lends you, plus interest revenue generated periodically by outstanding balances. Take a look at this
    example: you borrowed $100 from John with a 10% of interest rate.

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