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

"Me" <> wrote in message
news:4b60e568$0$12453$...
>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

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



>

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



"Haskel LaPort" <> wrote in message
news:4b61acb2$0$31286$...
>
> "Me" <> wrote in message
> news:4b60e568$0$12453$...
>>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
>
> Do you have an accountant or do you prepare the tax returns?
>
>
>
>>
>