"however payments are still being made. There is a profit on the return but obviously the dollars representing the payments are not in the bank."

Where's the Debt entered? You are supposed to be carrying a Liability balance that gets reduced by the principal component of each payment.

It's like this:

I take on $50,000 debt to buy a $50,000 forklift.

Now I own and use and depreciate the forklift.

That has nothing to do with the Debt. The payments are the Asset reduction and the Liability reduction.

Did someone forget to enter this Debt on the Balance Sheet? Because nothing here affects Equity. They affect each other. Asset goes down and Liability goes down.

Of course, you likely also have an interest expense component.