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Entering Seller Paid Closing Costs in Quickbooks
I'm trying to enter the HUD 1 closing statement into quickbooks for an apartment complex I just closed on but I do not know how to handle the seller paid closer costs, seller paid property taxes and security deposits. I think I need to enter them as accounts receivable and then create a separate accounts payable to offset them, but I'm not sure. Any help would be greatly appreciated.
Thanks!