Create table TRANS_TABLE (
MASTER_CODE int not null,
TRANS_CODE int not null,
TRANS_ID char(6) not null,
TRANS_DATE datetime not null,
IS_VOIDED char(1) not null)
GO

Insert into TRANS_TABLE

Select 123456, 56988, 'LOAN','15-NOV-10 19:41:39', 'N' UNION
Select 123456, 56989, 'PAYOFF', '30-NOV-10 19:44:45', 'N' UNION
Select 123456, 56990, 'PAYOFF', '30-NOV-10 19:47:45', 'N' UNION
Select 123456, 56991, 'PAYOFF', '30-NOV-10 19:58:47', 'Y'UNION
Select 123456, 56992, 'PAYOFF', '30-NOV-10 20:01:18', 'N'

--get list of ID's applicable..
SELECT DISTINCT MASTER_CODE
FROM TRANS_TABLE 
WHERE TRANS_ID = 'PAYOFF'  
AND IS_VOIDED = 'N'
AND EXISTS( Select MASTER_CODE FROM TRANS_TABLE WHERE IS_VOIDED = 'Y')

-- get every record for prior to voided date
SELECT DISTINCT TRANS_TABLE.*
FROM TRANS_TABLE INNER JOIN (Select MASTER_CODE,TRANS_DATE
							 FROM TRANS_TABLE
							 WHERE IS_VOIDED ='Y') VOIDS
 on TRANS_TABLE.MASTER_CODE = VOIDS.MASTER_CODE
WHERE TRANS_ID = 'PAYOFF'  
AND IS_VOIDED = 'N'
AND TRANS_TABLE.TRANS_DATE < VOIDS.TRANS_DATE
AND EXISTS( Select MASTER_CODE FROM TRANS_TABLE WHERE IS_VOIDED = 'Y')

--do it as a count instead
SELECT DISTINCT TRANS_TABLE.MASTER_CODE,COUNT(*)
FROM TRANS_TABLE INNER JOIN (Select MASTER_CODE,TRANS_DATE
							 FROM TRANS_TABLE
							 WHERE IS_VOIDED ='Y') VOIDS
 on TRANS_TABLE.MASTER_CODE = VOIDS.MASTER_CODE
WHERE TRANS_ID = 'PAYOFF'  
AND IS_VOIDED = 'N'
AND TRANS_TABLE.TRANS_DATE < VOIDS.TRANS_DATE
AND EXISTS( Select MASTER_CODE FROM TRANS_TABLE WHERE IS_VOIDED = 'Y')
GROUP BY TRANS_TABLE.MASTER_CODE

Poor planning on your part does not constitute an emergency on my part.