I have a pastel question I am hoping someone could assist me with.
My company has taken out a bond.
I would like to open a loan account and process the bond amount to that loan account.
I have opened up a loan account under long term liabilities GL.
I am not sure how to continue processing this bond, as the Bond was paid out directly to the bank account, if I CR the amount under the loan account what would I debit as the contra account?
Many Thanks
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