Loans

[David Harrison]

On 6/4/05, JBW <figure8cutty at bigpond.com> wrote:
>  $$$$$$$$$$$$$$$$$$$$$
>  Thanks again. This highly informative saga has lead me to the following
> method of handling a loan in GnuCash.
>  I'll use some real numbers (I hope I used Dr & Cr appropriately, if not I
> think you should get the picture anyway);

You've got the DR and CR backwards.  If your interested, there's a
explanation of DR and CR at
http://gnomesupport.org/wiki/index.php/GnuCashFaq#Q:_What_are_debits_and_credits.3F

<snip the chart>
>  
>  Does THIS method make sense from a practical AND accounting standpoint?

Other than the Dr and Cr reversal, your chart looks good.  By George,
I think you got it!!

>  
>  Regards
>  JBW
 
-- 
David Harrison, BAccS, CGA