We have a line of credit that was originated in 2013 for $5,000. This year we are refinancing the LOC for $7,500 (increase of $2,500) and extending the term out 2 years.
In 2014, do we report the full $7,500 on the register or only the increase of $2,500?
In reading the guide I see contridictory statements as to the correct reporting and need help here.