Mortgage Payments
Posted: Mon Jan 16, 2023 3:59 pm
We presently have 151214.04 left on out church property mortgage. What is the property wat to account for that.IAt present when I make a payment each month, At present i am decreasing the long term liability, expensing the interest and decreasing cash.
Is the correct way to do it? I don't have account payable open for the bank.
Should I do that? If so, not sure how to account for that.
Thanks for help
Ray
Is the correct way to do it? I don't have account payable open for the bank.
Should I do that? If so, not sure how to account for that.
Thanks for help
Ray