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pccjp
Mar 19, 2009, 06:29 AM
Our pastor was given a mortgage assistance loan. For each year of service $2K is forgiven. How would I set this up?
ROLCAM
Mar 21, 2009, 01:57 AM
Assuming the Pastor has three year's service.

DEBIT Loan Assistance Expense $6,000
CREDIT Pastor's Motgage Account $6,000

Being the forgiveness on the
Pastor's Mortgage Account.