Capital Purchases and Finance in AccountRight

Hi all

I have looked at a number of posts already regarding entering a car purchase and just can't get my head around it.

I am trying to record a purchase of a car totalling $41147

$500 was already paid from personal funds (say owner contribution) as deposit.

A further $3500 was paid from the business account.

Is it a simple matter of opening a MV asset account and doing a general journal where i Debit it $41147?

But then I am lost on the other side of the transaction. I've attached my entry - which i think looks ok for the purchase side of things

Do i credit Loan account for the difference ($37147)? ANd then how do i record the 2 deposits?

Apologies Its a dumb question, but hoping someone can help me.

Thanks in advance.

I have 3 cars to enter, so hopefully once I have it sorted on one, I can do the others.

Its a Chattel Mortgage, so I am claiming the GST upfront.

Thanks again