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entering vehicle trade-in

I recently traded in a transport truck on the purchase of a new one @ the cost of 142000.00 how do I enter into qb the trade when there was a full payout for the existing truck with the price deducted from the cost of the new truck? I have to loan 0 out but it still shows in my bs as fa

I only know basic accouting so am having a hard time with this and will probably need step by step and layman terms to follow

please help, this is a small business and I am the only "bookkeeper" with my corp tax return due.

tia

Reply to
Me
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Do you have an accountant or do you prepare the tax returns?

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Reply to
Haskel LaPort

I have done them myself the last few years, with the help of quicktax but this trade in is making me spin my wheels

Reply to
Me

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