I acquired a trailer on a lease to own and don't know how to enter this. Technically, until it is paid out, the payments are an expense. Do I enter the value of the trailer as a capital asset or is that deferred until the actual purchase?
ADMIN RESPONSE
Feb 10, 2025
Hi Jeanette! If you are entering the lease payments as expense then you're right, you'll wait until the end of the lease to enter the capital asset on the books.
