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Paid $1,300 towards principal of the notes payable What is the credit and debit for this?

Paid $1,300 towards principal of the notes payable What is the credit and debit for this?
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5 votes
Paid $1,300 towards principal of the notes payable
What is the credit and debit for this?

User Vladimir Ignatev
by
7.5k points

1 Answer

6 votes
Credit $1300 from you cash or bank account and Debit $1300 to Principal account.
User Zono
by
8.2k points
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