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    HeatherC6851's Avatar
    HeatherC6851 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 17, 2010, 11:12 AM
    Post vehicle long term note payable
    How do I post the purchase of a new vehicle as a long term note payable?

    Is this correct?
    ?? - Debit
    Note Payable - Credit
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Mar 17, 2010, 02:51 PM

    You just got a new vehicle so you're debiting the vehicle. If you "purchase" something it's fairly straight-forward: debit whatever you purchased.
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