asset mortgage: Mortgage purchased at a discount. Where on the balance sheet should the discount amount be placed?
The discount is income and goes on the P&L
ie mortgage 100,000 purchased for 80,000
long term asset mortgage 100,000 (debit)
checking 80,000 (credit) (the amount paid)
income 20,000 (credit)
Resolution for 'asset mortgage issue: 'Mortgage purchased at a discount. Where on the balance sheet should the discount amount be placed?' available: Yes.
The asset mortgage issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the asset mortgage issue yourself by looking for a resolution described in the article. If it is a complex asset mortgage issue or you are unable to solve the issue, you may contact us by clicking here or by using other asset mortgage support options.
For more information about resolving issues related to asset mortgage in Quickbooks/QBO or to get support for the issue 'Mortgage purchased at a discount. Where on the balance sheet should the discount amount be placed?', click the link below: