Non-Exempt/Overtime-Eligible. 1  Employees in non-exempt jobs are covered by the overtime provisions of the act and must be paid overtime (at one and one-half times the regular rate) for all hours worked over 40 hours per pay period.  Overtime may be worked only with prior approval of the supervisor/ manager.
Answers. Best Answer: Interest payable, actually ANY payable is a liability. Liabilities have credit balances. Your transaction is INCORRECT. It should be as follows: Cash 5000 debit Note Payable 5000 credit At this point NO interest is due, so Interest Payable is NOT involved. As interest accrues, It would be recorded as follows: Interest Expense X debit Interest Payable X credit.
The remaining $1,400 in points would be required to be deducted (amortized) over the life of the loan. Home equity line of credit points: Points paid for a line of credit or equity line, which is secured by the home, are deductible over the period of time that the credit line is in effect.or the first year, Pam will deduct $30 in interest expense in the form of amortized points. She makes this computation by taking the amount of the points ($1,800) divided by the length of the loan (30 years).