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Endowment Fund

Posted: Wed Apr 16, 2008 4:19 pm
by Clifton Collins
I set up an Endowment Account. With income, expenses, etc. Funds went into the account. A certificate of deposit was purchased. Income was credited and CD debited. CD matured -- funds were debited to Income. The church decided to place the funds with a brokage firm. A check was written and income was credited.

Problem Account now shows no asset. What is the procedure to show the asset amount?