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Fixed Asset Retirement as Trade In

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Posted on by spena

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Hi,

Does anyone know the proper steps to record a fixed asset retirement, where the retired asset is being traded in? Here are the inputs.

1. Selling fully depreciated car for $19,000

2. The $19,000 car is being used as a down payment on a $90,000 car

3. There is no cash involved.

More so than anything, I want to confirm which "Retirement Type" to use in the Retirement Maintenance screen.

Thanks,

Steve

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