Recording a Fixed Assets purchase with Bank loan

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Recording a Fixed Assets purchase with Bank loan

Hi there,

 

I need assistance recording a Fixed Asset purchase transaction in MYOB Essential.

 

Background of the transaction:

1- Commercial Real Estate purchase (inclusive of GST)

2- Property purchase plus over head were funded by a Bank loan (60%) and company cash (40%)

 

Questions:

1- What's the correct way to record adquired RE asset?

2- What's the correct way to record the Bank loan liability?

3-What's the correct way to record the GST paid on RE purchase?

4- What's the correct way to record associated depreciation account agains RE asset?

 

Thank you,

-Frank

 

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