Accounting for Long Term Notes Receivable - Interest Bearing

Learn the accounting for Long term notes receivable.
Textbook used: 2011 Edition Financial Accounting Volume 1 by Mr. Conrado T. Valix, Mr. Jose F. Peralta and Mr. Christian Aris M. Valix
#InterestBearing #notesreceivable #filipinoaccountingtutorial

[@stephenflorlumapas7209]

Thsnk you sir. Naiiyak ako
Ngayon ko lang to na intindihan. Salamat ng marami

[@chrischellemaeabdon394]

Thank you po, super helpful po. Mas naintindihan ko kesa sa prof ko.

[@FilipinoAccountingTutorial]

You're welcome Krishell!

[@felisazaragoza204]

Receivable Financing din po...please!!!
Mas naiintindihan ko po dito kesa prof namin.

[@FilipinoAccountingTutorial]

Hi Felisa! Thank you sa positive feedback! Sure, susunod na yan after ng Loans Receivable.

[@ABMArnelManaloTV]

Thanks for sharing...

[@ashreengabay9593]

THANK YOU SO MUCH, SIR! Thumbs up for this vid. Salute! Very helful. Ngayon ko lang mas naintindihan to. Actually, balak ko panoorin lahat ng video mo sir. I started since day 1 of ECQ 😊 Dami ko pong natutunan! Thank you!

[@ashreengabay9593]

helpful*

[@FilipinoAccountingTutorial]

Hi Ashreen! Thanks din for watching. Masaya kami makatulong. Magandang plan 'yan while may ECQ. Stay safe!

[@kuyabj2136]

Maraming salamat po

[@FilipinoAccountingTutorial]

Walang anuman

[@sirjhemvlog2416]

salamat po sa new videos, God bless u po always

[@FilipinoAccountingTutorial]

You're welcome Eric!

[@lynjaraparcasio8744]

Sana sir gumawa pa kayo Ng marami Pang Video sa accounting
Thank you
You’re amazing sir

[@FilipinoAccountingTutorial]

You're welcome Jojo!

[@depkim2946]

Well explained 👏 👏 👏 💕😊

[@FilipinoAccountingTutorial]

Salamat @Dep Kim!

[@charielynpastrana1357]

Hello sir! Thank you po for this video Sana po gumawa din kau about trade and cash discount.

[@FilipinoAccountingTutorial]

Nakapaloob ito sa merchandising at accts receivable na topic

[@kwokwingsum99]

Thank you so much. You are absolutely amazing.

[@FilipinoAccountingTutorial]

Welcome Kwok!

[@kmccpa_]

BIG HELP!! THANKYOUUU

[@FilipinoAccountingTutorial]

You're welcome Kia!

[@naginaginapao7080]

Pano po kapag compounded semi annually, quarterly, monthly? Paano po yung effect nun sa interest rate? Ididivide lang po ba sa number of times compounded, tapos saka immultiply sa principal? salamat po sa video!!

[@Skye_x00]

Up

[@christopheropena0123]

UPPPPPPPPPPPPPPP

[@quindaramialiwanag2827]

Ang dami nman ng kinita ni Fathom Com hahaha, btw thanks for this sir!

[@FilipinoAccountingTutorial]

Haha! You're welcome Mia. Mag aral nang mabuti 💛

[@jonelatendido7205]

Salamat Po😊

[@leimarie7385]

Thank you po! 😊

[@FilipinoAccountingTutorial]

Welcome Leila!

[@marjorieponce9638]

Thank you po dito Sir!

[@loveyouuu1685]

Good Morning po. Ganon po ba kapag may interest receivable? Iko-considered na po gaad siyang accrued interest receivable?

[@shoyoishida5901]

Hello po! Bakit po hindi na nag-account ulit ng interest income sa Year 3?

[@k4thn]

N/R is due po on Jan. 1, 2021 (maturity date). Wala na po ma-iipon na interest for 2021, kaya ipag-add nalang yung 2019 at 2020 accrued interest rec.

[@maxxi2870]

❤

[@FilipinoAccountingTutorial]

💓

[@waltestranghero9705]

THAAAAAAANKS

[@FilipinoAccountingTutorial]

Welcome Walt

[@Gloria07357]

thank you❤️

[@FilipinoAccountingTutorial]

You're welcome 💛

[@Snoopy-hq6zh]

Hi po sir! Tanong ko lang po kung possible ba na hindi compounded annually yung interest bearing note. Thank you!

[@FilipinoAccountingTutorial]

Hello, Snoppy. Yes, possible 'yan ❤️

[@akiishigami845]

Thank you for the video po pero pwede po ba kayu gunawa nung may Reversing entry po kung ano effect nya Tysm🤍🤍

[@FilipinoAccountingTutorial]

Noted itong suggestion mo @aki 🙂

[@rheagajopo2932]

Good day, Sir! Tatanong ko po sana kung paano po ang gagawin kapag yung customer po ay nag-issue ng 15-day promissory note with 18% na interest para sa account niyang past due na. Simply debit lang po ba ang NR and credit ang AR?
And need pa po ba magpost doon sa subsidiary ledger po doon sa account ni customer? Maraming salamat po!

[@FilipinoAccountingTutorial]

Hello Reia. Yes, you need to reclassify na AR to NR since may promissory note na ang receivable. Debit NR credit AR.
About sa AR subsidiary ledger, yes you need to update din yun kasi hindi na sya AR. Hope it helps.

[@rheagajopo2932]

@@FilipinoAccountingTutorial thank you, Sir!!

[@cindyamarado1954]

Question lng po. Bakit 2019-2021 pero 2yr ung note?

[@eisellacelestewolfz660]

Cindy Amarado Jan 1, 2019 - Jan 1, 2020 1st yr
Jan 1, 2020- Jan. 1,2021 2nd yr

[@hannamaemanaog1910]

Purchased additional computer units worth P60,000 by issuing a 30 day, 6% promissory note.
Paano po kapag ganto?

[@FilipinoAccountingTutorial]

Hello Hanna:
Debit Computer Equipment
Credit N/P
Amount 60K

[@hannamaemanaog1910]

Hindi po ba mag iiba yung amount ng sa promissory note?

[@SheewrySwagg19]

meron po kayong amortization table para dito?

[@FilipinoAccountingTutorial]

Meron

[@chardtv8451]

Sir, bakit hindi po tayo nag recognized ng Accrued Interest Income sa dulo ng taong 2021?

[@FilipinoAccountingTutorial]

Hello Chard, collected ni full amount na kasi ang notes receivable ng Jan 1 2021. Wala ng notes receivable ng Dec 2021. Hope it helps.

[@aein_gi3763]

@@FilipinoAccountingTutorial thank you so much po and thank you rin sa nag tanong (itatanong ko rin sana eh hahaha) hindi kasi in-explain sa book huhu. God bless po!

[@FilipinoAccountingTutorial]

You're welcome, Aein. We hope this video will help you. 🧡

[@chardtv8451]

@@FilipinoAccountingTutorialay oo nga pala.... hehehe. salamat. tama po kayo.

[@keilameiquebral4057]

loan receivable naman po plss.

[@FilipinoAccountingTutorial]

Sure Keila! Susunod na yan.

[@yanminbeecajurao5095]

discounting of notes.. po please

[@keanleighfelicano5973]

ask lang po bakit wala po ang interest sa third year?

[@rickyferrariz5175]

Jan. 2021 is jan. 1 2021 kaya hindi sya bilang po and the term is two years

[@sadekim522]

thanks sa nag tanong..ito din sana itatanong ko ehh hehe... Thank u din sa sumagot:)

[@felipareynon8070]

Installment pls

[@karllestersolano6423]

Sir acceptable din po ba na irecord pa po yung interest income for 2021 at madagdagan yung cash account?
Cash 8 429 568
NR 6M
Acc.IntRec 1 526 400
Interest Inc 903 168

[@FilipinoAccountingTutorial]

Hi Karl! Actually wala ng interest income ng 2021. Jan 1 2021 maturity ng NR.

[@jonelatendido7205]

Salamat Po😊