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Index

0:30 Definition of income vs a loan

1:08 Mistakes Seth sees when he sees loan recordings

2:16 We need to always visualize the books on what's expected to be seen

3:23 Record whole payment as principal, interest separate

4:10 Using the example 100k loan, record it in bank deposit

4:54 Check your balance sheet before saving transaction

5:29 100k going into the bank

5:46 Loan payable shown on balance sheet 100k

6:28 Template to record the loan, to get entries done

8:00 Record the payment out of the bank account

8:45 Check balance sheet to check work

9:07 Record journal entry, copy Seth's template for journal entry

10:07 Check the balance sheet again

10:32 Check the transaction report

10:45 View how interest increases balance

11:09 Running the profit and loss, to doubled check everything is correct


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