I established a new LLC and that LLC purchased a rental property. To acquire this property I used 1031 Exchange Escrow monies ($100K) and a Loan for the remaining $200K balance. The old "Sold" property was not an asset of the LLC so I don't have the sale transaction on the LLC's books. How do I record the journal entry on the LLC books? Specifically, what do I do with the $100K portion that was from the Exchange Escrow when the exchange escrow was not part of the LLC?
dr Building $400
cr Loan Payable $300
cr ? $100
dr Building $400
cr Loan Payable $300
cr ? $100