USA Owners Equity Account

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Any suggestions on how to post a rebate our company received, and using the rebate as a down payment (trade in) for a vehicle purchase?
Should I Credit Members Equity with the rebate amount? And, Credit the cash (debit) to Members Draw?
 

kirby

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Reduce the amount of the new vehicle purchased by the rebate amount
 

Werner Reisacher

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Be careful with the accounting law. If you actually purchased the car at a reduced price (rebate) this is the maximum amount you can capitalize the car. (lower of cost or value)
 

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