Posted by Merkan@swbell.net on January 30, 2007, 4:03 pm
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How do I account for a commercial mortgage down payment in Quickbooks Pro
2006? I've worked through the Loan Manager screens, but there isn't a field
for the down payment.
Thanks,
Merkan
Posted by Bob on February 3, 2007, 3:38 pm
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Merkan,
I would think that this simplified journal entry accounts for your
down payment:
dr. Fixed Assets - Land 50,000
dr. Fixed Assets - Building 200,000
cr. Mortgage Payable 150,000
cr. Cash
100,000
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