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View Full Version : M/v purchase with old truck and cash

crispano52
Dec 17, 2009, 12:44 PM
A client put a deposit for a car $5000 cash and $15000 old car trade in.
What is the journal entry for this?
ROLCAM
Dec 17, 2009, 09:47 PM
DEBIT New Car Account **20,000
CREDIT Cash Account *** 5,000
CREDIT Old Car Account** 15,000

Being purchase of a NEW CAR.