Does a business record interest in their accounting if they started it with a personal loan?

Sam started a business with a personal loan of 50,000. He paid interest of 500 on the personal loan. Should he record the interest payment?

The interest is an operating expense just like rent, telephone etc. For the business that loaned Sam the money, it is income.

Yes, everything will be recorded to your credit line as a personal loan interest. Better to ask advice's from an experts to clear up your doubts or else visit us now! http://goo.gl/ZVQJsE

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