Basically, what happened is we traded the value of our services for Memberships in a land development LLC, for which we receive a percentage of sales each year as return on investment.
The value of our services exceeded the value of the LLC memberships and I booked the difference as a loan receivable. They made 2 payments, and the balance has been carried.
Ugh! I hate going back to the general ledger printouts that far back!
What's the best way to get rid of this receivable? Suggestions?