I have a customer who bought/gave me a snow plow in exchange for on going lawn services and I need help recording it. The snow plow was bought new and cost $5,421.02. I recorded it as an asset but am confused with how to record the liability.
Should this be recorded as a loan? Or Should I credit the customers account?
How would I record the services performed for this customer?
Any help is much appreciated.

The liability would be Unearned Revenue or you could use Unearned Revenue - Customer Name.

When the services are performed the journal entry would be:
Debit Unearned Revenue or Unearned Revenue - Customer Name for the amount of service performed
Credit Service Revenue for the amount of service performed