How to record the interest for the transaction obtained a


How to record the interest for the transaction?

Obtained a loan of $14,000 from Uncle Christopher (a family relative of Helena Lee) at a simple interest rate of 8% per year, Check No. 195, Receipt No. 6348. The principal and interest on the loan are payable in six months time.

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Accounting Basics: How to record the interest for the transaction obtained a
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