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    #1

    Revolving Loan

    We sold a property for the amount of $400,000. In our closing statement, we have proceeds $250,000. The title company uses our revolving loan in the amount of $100,000. Title, Escrow and other charge are $50,000.

    Revolving loan has not been booked before. How can I book the revolving loan?

    Sorry I have to post here because I really can't find another webside to discuss.
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    #2
    Revolving loan?....

    .... please give more info. Is this a builder? Etc.............
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.

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      #3
      We are non-profit real estate developer.

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        #4
        Boy.......,

        ..... you got me on that one. Never heard of a "Non-profit RE Builder". I'm afraid to answer any question!!!???
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

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          #5
          Habitat for Humanity International is a non-profit real estate builder. They build houses for poor people around the globe.

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            #6
            Cool......,

            ......... still not within my scope of operation.
            This post is for discussion purposes only and should be verified with other sources before actual use.

            Many times I post additional info on the post, Click on "message board" for updated content.

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              #7
              do we have to book revolving loan as a liability?

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                #8
                All...............

                ...... money owed should be booked for the amount the organization owes at any particular time. If it is a line of credit, do not book the credit available, only the amount owed.
                This post is for discussion purposes only and should be verified with other sources before actual use.

                Many times I post additional info on the post, Click on "message board" for updated content.

                Comment

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