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Question is to do with leased equipment. I will try and explain...... Leased a tractor and airseeder and traded a tractor and airseeder that were owned, no loan on then. Lease is not up yet, but have decided to trade airseeder in on a new airseeder and finance new purchase with the bank. Here are the figures on the paper work from the equipment dealer. New airseeder 322,000.00, trade in allowance 110,000.00, 67;500.00 on purchase, balance owed to equipment dealer is 279500.00. Cheque written to dealer is 279500.00, new loan for 322,000.00. how do I post the 67500.00????
Hey Debbie, I can see why you're having trouble with that. I can't figure out a balanced transaction using those numbers either!
New Air Seeder and New Loan balance each other out. But then the cheque for $279,500.00 (which would be to pay out old leases I'm assuming) is $100,000 higher than it would need to be. If it's not too inconvenient, it might be best if you faxed the paperwork in to us at 1-306-721-0062 and then called in so that we can go through it step by step with you.