Good Evening Everyone,

I am reconciling some real estate purchases and transactions and need some help.  I paid an EMD for a property purchase from Company A.  Company B completed the sales and has ownership rights to the property.  The HUD statement lists the deposit as part of the purchase, but I need to account for the EMD. 

To square everything away - Does Company B owe Company A the EMD $ back?  

Real Estate Accounting is new to me - any help is appreciated if anyone can layout the journal entries / accounting.  

Thank You