Entering the Check I received for the sale of a Personal car
Hi,
I just sold a car. This was a cash transaction as the car had no liens, loans, etc. Title was clear.
How would I enter the check? I'm assuming the Payee would be "deposit" but I don't know what to put in the account field in case I have to pay tax or fees on the amount. I did not make a profit as the car was almost 5 years old and I sold it for less than I bought it.
Thx.