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C12
Level 1

C corp and personal loan

Hello,

 

I got a c corp and I got personal loans for my business.  Right now I have each loan setup as a long term liability notes payable., because this was a personal loan that I cashed and contributed to my business should it be the long term liability or show up as owners equity?  If it is owners equity then how do I show payments for interest and for principle?  Show them as owners distribution or as expenses?

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