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Level 1

Recording Debt Consolidation Payments

I have a client that uses the business account to make debt consolidation payments. The consolidation is to help his personal credit score but he is a single member Llc and I don't believe the irs 1040 will care either way but what would be the correct way to record these payments?

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Level 15

Recording Debt Consolidation Payments

payments for personal use is an equity draw

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