Skip to main content

SUMMER SAVINGS 90% OFF QuickBooks for 3 months* Ends 8/27

Buy now
Switch to QuickBooks and 70% off for 3 Months
New Member
August 25, 2026
Question

Please help me with journal guidance on building sale after receiving the closing statement

  • August 25, 2026
  • 0 replies
  • 5 views

I received a closing statement and I did my journal perfectly.

1. Now I have loan costs still under assets still on the balance sheet processed in the beginning at the acquisition of the building and some during the 4 years.How do I clear these.  Do I credit the unamortized capital to zero all out but it will reduce the gain/ loss

2. I also have the closing costs like acquisition costs, title insurance , appraisal fees etc still under assets. How do I clear these.  Do I add in my journal crediting their respective accounts to zero them out 

but it will reduce the gain/ loss