schoolworker
May 9, 2007, 11:02 AM
How do you record the trade in value from a fixed asset? We bought a bus and traded in an old bus at the value of $1700, which is included in the cost of the new bus. How does this get recorded? I remember something about it being called a "boot" entry? Not sure? If you know anything please let me know ASAP. Thanks!:o