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    Oct 1, 2011, 09:43 AM
    How to record a loan purchased on journal entry?
    How do you record a loan purchased on a JE? My boss purchased a loan at an auction. It is an asset, since there is no outstanding balance due, what type of asset gl does "Note Purchased" need to be?
    The information is coming from the closing statement, so it does not give value to land and building

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