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Journal Entry
Here is some data, create journal entry. This is to create the correct items for tax purposes on schedule E and to record the correct asset entry on a new rental home purchase. How many general journal entries would you make and what would they look like?
1.Selling price: $500,000 2.Settlement charges: i. 1 year insurance $7247.22 ii. Title search $200 iii. Title insurance $1245 iv. Pest control inspection $125 v. Home inspection $1250 vi. Other misc fees for closing $4,837 |
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