I have a client I have had for some time, who recently announced to me that he has a huge ira account he'd like on his books. It requires a 700,000 + asset addition, and shame on me I cannot remember what to put the offsetting entry to. Thanks so much for your help.
Bethann:o

Technically, this is more complex than a simple debit/credit. In theory, though, the offset is to an unearned account since he cannot withdraw (a few execeptions) against this account without penalty until he reaches the specified age.