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Karen purchased a new trailer to haul equipment for the business. The trailer cost $19,950 + HST. Fantastic Flowers Company made a down payment of
Karen purchased a new trailer to haul equipment for the business. The trailer cost $19,950 + HST. Fantastic Flowers Company made a down payment of $1,000.00. Theyre financing the rest of the cost. Theyve received a loan for the remainder amount from TrailersRUs (Tip: setup TrailersRUs 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). Use the next cheque # in order. Make the entry on
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