USA Line of Credit

[Melly4]

How do I show a line of credit on the balance sheet for nonprofit? I have created a current liability account for the line of credit, once we received the bank deposit of the line I applied that amount as a deposit using the line of credit account I created and once I paid it I charge that same line of credit account, so now the line of credit amount does not show up on the balance sheet. My question is, is a paid line of credit supposed to show on the balance sheet or just when it is unpaid?

 

[Drmdcpa]

The only thing that should be on a statement of financial position, the balance sheet for a non-profit, is any balance owed on the LOC. Thus if the LOC is paid in full, it should not be showing.

 

[Melly4]

Thank you.