How to account Notes Payable
Notes Payable can be issued for a cash lump sum, installment, and in exchange for property. How to account notes payable interest - amortization can be straight-line, outstanding balance, or effective interest method.
-TIMESTAMPS-
00:00 How to account notes payable
01:00 notes payable issued for cash lump sum
02:32 notes payable issued for cash installment
06:06 notes payable issued for property interest bearing
06:48 notes payable issued for property non-interest bearing (straight-line method)
07:26 notes payable issued for property non-interest bearing (outstanding balance method)
11:23 notes payable issued for property non-interest bearing (effective-interest method)
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