Right way to record a house loan

[Randall Hopper]

Michael and Alex, thanks for the replies.  Your examples helped point out
my misunderstandings: 1) Asset accounts track the true value of the
property irrespective of the Liabilities (loans) that you might have open
against them, and 2) Equity is just a grab-all account class you use to
seed the accounts correctly when starting out.

Michael T. Garrison Stuber:
 |I've got a more detailed explanation of this I worked up for a friend if 
 |you're interested.

Yes, I am interested.  I'm sure I could learn a few things from this.

Thanks,

Randall

-- 
Randall Hopper
aa8vb@nc.rr.com