Purchases and Trade-in of Motor Vehicles

This paper gives the reader an understanding of how to correctly record the purchase of a motor vehicle. To make the transaction as real as possible, the example I use involves a deposit, a trade-in, financing, and payout of an existing loan. It covers how to do the...

Recording Cash Back Promotions

As an inducement to buy a new piece of equipment from a supplier, manufacturers often offer “Cash Back” or “Factory Bonus” promotions where they give you cash on your purchase. A great deal, but a little tricky to record properly. This paper...