Update!
Nevermind. I found my problem/s. It was a matter of making sure that the query holding the total amount borrowed was a unique value and taking out fields in the report that should not be counted (like comments and such).

I am developing a report in which I want to include a total monetary value of currency entries from different days (each day being a seperate record to keep track of the day and its associated amount). For example one day I borrow $10 to my buddy Jim and another day down the road I borrow Jim $20. On the form, I want to keep track of how much I borrowed and the day I borrowed the money. On the report, I want to see how much total (in all) I have borrowed Jim. I don't care about the individual dates at this point. I have no problem coming up with the total and displaying it on the report. The problem I have is that let's say I have borrowed Jim money on five seperate days. The report prints/displays the total five times, once for each day, so it looks like this:
Jim: $30.00
Jim: $30.00
Jim: $30.00
Jim: $30.00
Jim: $30.00

Has anyone else came across this scenario? If so, I am a dude in need of some help and trust me, I would be ever so appreciative. Thank you for any help in advance.

Sounds like your SQL is wrong. It should be something like:

SELECT PersonName, Sum(AmountBorrowed) AS AmtBorrowed
FROM TableName
GROUP BY PersonName

That's making some assumptions about your structure, and of course you need to replace with your actual names.