New Loan Recording

[athomas]

Approved for a new loan for 300,000.00 from a new financial institution, of which 200,000.00 did not come thru church's hands but was sent directly to another financial institution to pay off a loan. I think i record the payoff by db old loan and credit new loan based on an older post. But we also received a cash portion 100,000.00 of the new loan which was deposited in a checking account. how to record the total new loan. It is not a designated fund.

[Zorak]

This looks like it would do it (your account numbers will differ of course)

01-1110-000 (Debit) Checking 100,000.00
01-2110-000 (Debit) Old Loan 200,000.00
01-2120-000 (Credit) New Loan 300,000.00