An example of a notes payable is a loan issued to a company by a bank. At the beginning of each month, Todd makes https://www.bookstime.com/articles/vertical-analysis the $2,000 loan payment and debits the loan account for $1,500, debits interest expense for $500, and credits cash for $2,000. She debits cash for $2,000 and credits notes receivable for $1,500...