$14$th of last month

Write cheque $($or Enter Expense$)$

It$$s an exciting day! Alice purchased a new Ford truck for the business. The truck cost $$28,750+$ tax. Green Tree

Landscapes made a down payment of $$2,875\mathrm{.}00.$ They$$re financing the rest of the cost. They$$ve received a loan

for the remainder amount from Ford $($Tip: set up Ford Company as a supplier$).$ Setup the accounts to track the

original cost and depreciation of the new asset. Write a cheque to pay for the asset $($Tip: record the loan on the

cheque$).$

a$.$ You can either, $+$New Expense or $+$ New Cheque

b$.$ The Payee is Ford Company. QuickAdd this supplier.

c$.$ The Bank Account is: $101$ TCU Chequing

d$.$ Payment date: $14$th of last month

e$.1$

st Category details:

Use the following information to set up the Ford Truck on the $1$st line:

Account Type: Property, plant and equipment

Detail Type: Vehicles

Name: Ford Truck

Number: $150$

$($Remember: click the box to track Depreciation of this Asset$)$

Once you$$ve set up the Truck acct, make sure you choose the Original Cost account when you go back to the

Expense or Cheque form.

We paid $28,750+$ tax for the truck.