We have a small business that was just sold by the original owner and ourchased by the new one.

The original capital invested was $210,000.00. The business has lost money in the amount of approx. $70,000.00. The original owner wanted to get out.

He was able to organize a new owner .

The new owner gave us $2,000.00 as a loan to the business.
Then the new owner gave the seller a check a check for$45,000.00.
The business made out a check to the original owner for $85,000.00.

The original owner always spoke of a selling price of $130,000.00
for the business.

I have an idea as to the entries but want someone out there to confirm
ans help me so I do not fail to record this transaction properly?

Thank you,

Ed