Clerk Accounts Payable Question:

Explain do you know what is interest on capital?

Interest on capital is where the extra you receive on the total amount you invest in a business.

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Explain do you know how to debit the bank cash book upon withdrawn of cash from the bank?	Tell me how would you enter this into a journal entry? Purchased equipment from ABC company, $9,000. Paid $1,500 down and the balance was placed on account. Payments will be $375.00 per month for twenty months. The first payment is due 4/1.?