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    kentay's Avatar
    kentay Posts: 2, Reputation: 1
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    #1

    Jul 26, 2010, 11:46 AM
    Trade in truck with down payment and remaining financed
    I am trading in trucks with a cost of $590968 depr $236388 payoff old loans $348205.. cost of new trucks $641888 new loans 629500... how do I make this journal entry
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jul 30, 2010, 01:01 AM

    Can you clarify "payoff old loans $348205"? Are you meaning you paid that off, or that that's still what is due and is tied up in that 629500?
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