Obtained a loan of $11,000 from Uncle Oswald (a family relative of IsabellaDavis) at a simple interest

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Obtained a loan of $11,000 from Uncle Oswald (a family relative of Isabella Davis) at a simple interest rate of 10% per year, Cheque No. 162, ID #CR000001. The principal and interest on the loan are payable in six months time.

How do we record this transaction in MYOB Account Right Plus?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Sep 19, 2023 07:48 AM

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Obtained a loan of $11,000 from Uncle Oswald (a family relative of IsabellaDavis) at a simple interest

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To record the loan transaction in MYOB AccountRight Plus we need to create a journal entry In this s... View the full answer

Income Tax Fundamentals 2013

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