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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 double check everything is correct
11:23 Create a journal entry dealing with the portion that was loaned
12:32 Real trick to having a loan recorded being bulletproof is
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