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-   -   M/v purchase with old truck and cash (https://www.askmehelpdesk.com/showthread.php?t=425888)

  • Dec 17, 2009, 12:44 PM
    crispano52
    m/v purchase with old truck and cash
    A client put a deposit for a car $5000 cash and $15000 old car trade in.
    What is the journal entry for this?
  • Dec 17, 2009, 09:47 PM
    ROLCAM

    DEBIT New Car Account **20,000
    CREDIT Cash Account *** 5,000
    CREDIT Old Car Account** 15,000

    Being purchase of a NEW CAR.

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