10-14-2005, 04:58 AM
My company has been purchased and the General Ledger has been reset to zero. Then the GL starting numbers were set with the assets and Liabilities and the loans taken to pay for the business was entered.
My question is how do you post in the GL the purchase price of the company and the payments made to the seller? Granted the loans were used to pay the seller how our books do not show a payment for the purchase?
How should this have been entered correctly?
Jacquie !!)
My question is how do you post in the GL the purchase price of the company and the payments made to the seller? Granted the loans were used to pay the seller how our books do not show a payment for the purchase?
How should this have been entered correctly?
Jacquie !!)
