Question
Stripe Capital Program ( Stripe Loan)
Hello,
I got a stripe loan ( Loan amount $7500, Fixed Fee $1350, Total repayment $8850, Repayment Rate is 13.40%, Minimum payment $983.40, Minimum payment period every 60 days)
I transferred $7500 to the liability account, I opened for this loan. Stripe takes 13.40% of the percentage of daily merchant receivables..How do I need to record these transactions? I want to see my loan decrease:) Please help me. Thank you so much!