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A Mortgage Note Payable with a Fixed Interest Rate Requires Form

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A Mortgage Note Payable with a Fixed Interest Rate Requires Form

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hello welcome to accounting hub i'm professor george skype in pag in accounting and our topic today is installment notes long-term notes payable how do we account it so first of all we have difference here between the usa and the other countries installment payments is how we call in the u.s our long-term notes payable is how we call it in international accounting based on ifrs they are equal amounts each period and we have periodic reduction of the balance is sufficient at the maturity the note is completely paid so we have no uh no other payment at the end of our installment note or our long term notes table and each payment includes both interest and principal reduction so when we pay it we are paying interest and we are paying the principal reduction as well so how does it work go to our excel file here usually we have two different uh types of installment notes or long term uh notes payable when we issue for cash and for other assets that is not cash first of all let&#

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