Owner has purchased a business.
He paid $10,000 for the business and $4629.14 for the inventory.
He put a $1500 deposit down and then paid the balance a week later.
How do I enter this into Sage correctly?
Thank you in advance.
Harper57:
Debit Deposit account $1500.
Credit Bank $1500.
Debit Inventory $4629.14
Debit Goodwill $10000.00
Credit Bank $13129.14
Credit Deposit account $1500.
Hope this helps!
thanks!
Hi harpar57, great to see that the community helped you figure out a solution!
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