I need to set up a fixed asset (building) with a mortgage loan. The loan I have been paying for approximately 9 months but haven't been recording it back to the fixed asset account. Is there an easy way to fix that without having to delete all the mortgage checks wrote? Also, the mortgage is split between a bank loan and an owner finance. Would I need to set up 2 accounts for the building or separate one for building and one for the land? My accountant told me enter this and I am totally lost on how to make it come out correctly.
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