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We purchased a piece of equipment on payments with no interest. Do I log the entire purchase amount as the business asset or just what we paid on payments that year?
I.e. We purchased a machine used for $25k in November of 2016 but have been making $500/month payment so we only have paid $1000 in 2016. So I put $25k as the asset to be depreciated or $1000?
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May 31, 2019
7:44 PM