by JDart1042
(Broomall PA)
How to Record Interest Charges
I was wondering if someone could tell me how to record a service charge from one of our vendors.
We currently have a balance of 8000.00 with them and since we did not pay the full amount, they charged us 2%, or 160.00 at the end of the month.
Would this fall under "Interest Expense" account? Thanks!
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