Video: Debt, Notes and Bonds Payable Overview and Objectives

In this engaging lesson, Nick Palazzolo, CPA, tackles the often-frustrating topics of debt, notes, and bonds payable with a promise to clarify these concepts like never before. He sets out with determination to ensure a comprehensive understanding of premiums, discounts, and the relevant journal entries associated with these types of accounts. The objectives will guide you through classifying financial instruments, calculating interest expenses, and preparing journal entries for notes and bonds payable, including handling discounts and premiums. Nick assures that by the end of this lesson, the murky waters of debt accounting will be crystal clear.