How to record a hypothetical transaction rental purchase where I get 1 month's rent + sec. deposit a

Hello.

I made this example up and now I'm trying to figure out a journal entry
would record it. The purchase of a rental property (sold price) is
$50,000, it was already rented so a $775 security deposit goes to the
buyer at closing, as with a month's rent for $360.

*** Q1 ****This is how I think it should go, is this correct? *******

Fixed Asset (Real Estate) + 50,000 Dr.
Rental Income + 360 Cr.
Liability - sec. deposit +775 Cr.

Cash + 775 Dr.
+ 360 Dr.
- 50,000 Cr.
Net Cash txn: - 48,865 Cr

Note that the plus and minus is to make it clearer on each account if
the Cr. or Dr. is an increase or decrease to an account, in no case is
the -50,000 a negative credit (thus a debit). It's a 50,000 credit,
which decreases the asset account by nature of being a credit.

***** Q2 ***** I don't have a HUD-1 which I think is what is throwing
me off for this. The net proceeds to bring to the table are 48,865,
right? ******

Thanks!

Re: How to record a hypothetical transaction rental purchase where I get 1 month's rent + sec. depos

does anyone have suggestions for this?