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This may be a basic question but I am having trouble moving money that we have drawn on our Line of Credit into the checking account for use. I assumed I would debit checking and credit our LOC account, both under the same fund (01-1125 checking (debit $4000) 01-2310 LOC, Mortgage (credit $4000)) but, the amount added to the checking account does not show up on the income/loss statement. Am I missing a step?

You did it the right way. Money you borrow is not income to you, it is an increase in the amount you owe to someone.