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August 11, 2022
Question

Loan

  • August 11, 2022
  • 0 replies
  • 2 views

Hi, how do you adjust a negative Opening Balance Equity?  A Loan Payable account was set-up. However, Opening Balance Equity was used in setting up. What should be the entry for a Loan Payable Account. How will I reverse it?

 

Thank you,