Journal Entry to document trade in/new equipment Purchase

Hi,

I need help with how to document this in QuickBooks desktop.

Purchased a new 2026 Feed Mixer for $95,650

Traded in old 2020 Mixer for $44,000

Original purchase price $70,000 (purchased outright, no loan and fully depreciated)

Deposit on new 2026 mixer $6,650

Fees $300

Total Amount to be financed $45,300.

I already have the fixed account created and the Long term Liability account created. Any help would be greatly appreciated, Thanks!

Stephanie (removed last name)

QuickBooks Team

Hi there, @Gracie251.

In QuickBooks Desktop (QBDT), we are unable to offer guidance on properly recording your trade-in or new equipment purchase.

We suggest consulting with an accountant, as this process involves specific accounts that may affect your financial records.

Consulting an accounting professional would be the best approach.

Please refer to this post if you have additional concerns related to QBDT. We're here ready to assist you.

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