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02/10/2012 at 03:34PM PST
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TomR58
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11/17/09 7:51am PST
Viewed by asker 11/17/09 8:36am PST

Paying myself back money loaned without interest

I loaned the company money before getting investor funding. Now that the investor money is in the bank , I want to write a check to get back the amount I loaned the company . How do I account for that ?

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CopperCanyonTax
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CopperCanyonTax
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In theory you would write a check and offset a liability for the loan. How was the money accounted for initially?

Marc Barnes

To learn more about Copper Canyon Tax, please visit our website.

Marc R Barnes
Copper Canyon Tax and Financial Services
coppercanyontax.com
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