Cash Out Refinance with Distributions
Looking for the correct/best way to account for Debt Financed Distributions from a Cash Out Refinance on a commercial property?
What get's credited and what gets debited?
So far we have:
Credit: New Loan
Debit: Cash Account, Old Loans and Misc. Loan Fee's.
This matched up on the transaction.
This money is non-taxed as I understand, so where does it go on my cashflow statement to account for that distribution from the cash account but not be applied to taxable distributions?
Thanks,
Chris Byers