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What is the journal entry for down payment of cash?
[Debit] Down payment xxxx [Credit] cash xxxx
What journal entry is a down payment?
Debit down paymentCredit Cash
What is the installment price minus the down payment equal to?
amount financed
What is the journal entry for purchase and made a down payment of cash and issued a note payable?
[Debit] Purchases xxxx [Credit] Cash/bank xxxx (For Down payment) [Credit] Notes Payable xxxx
What is the difference between horizontal forms and vertical forms of balance sheet?
vertical is strait up and down and horizontal is across (strait across)
What type of purchases require a down payment?
Several purchases require a down payment. Some examples are houses, cars and boats. The amount of the down payment is negotiated between the buyer and the seller of the purchase.
For a two-door car that is marked at 6995 a car dealership offers a down payment deal of 1000 or 20 Percent down with approved financing How much is the difference between the two offers?
399.00
What happens when a mortgage defaults after a gift of equity?
The title to the property was transferred to the new owner at below market price. The difference between the transfer price and the fair market value is called a gift of equity and some lenders will allow the borrower to use that amount as a down payment. If there is a default in paying the mortgage the lender will take possession of the property by foreclosure. As with any cash down payment, in the case of a foreclosure the gift of equity is gone. You don't get the down payment back.The title to the property was transferred to the new owner at below market price. The difference between the transfer price and the fair market value is called a gift of equity and some lenders will allow the borrower to use that amount as a down payment. If there is a default in paying the mortgage the lender will take possession of the property by foreclosure. As with any cash down payment, in the case of a foreclosure the gift of equity is gone. You don't get the down payment back.The title to the property was transferred to the new owner at below market price. The difference between the transfer price and the fair market value is called a gift of equity and some lenders will allow the borrower to use that amount as a down payment. If there is a default in paying the mortgage the lender will take possession of the property by foreclosure. As with any cash down payment, in the case of a foreclosure the gift of equity is gone. You don't get the down payment back.The title to the property was transferred to the new owner at below market price. The difference between the transfer price and the fair market value is called a gift of equity and some lenders will allow the borrower to use that amount as a down payment. If there is a default in paying the mortgage the lender will take possession of the property by foreclosure. As with any cash down payment, in the case of a foreclosure the gift of equity is gone. You don't get the down payment back.
What is the difference between cut in and break down voltage?
what is the difference between cut- in and cut -out
What is the difference between prepayment and down payment?
A down payment is an initial upfront payment made when purchasing a property or asset, typically expressed as a percentage of the total price, and is often required by lenders to secure financing. Prepayment, on the other hand, refers to the act of paying off part or all of a loan before its scheduled due date, which can occur at any time after the loan is initiated. While a down payment is part of the purchase process, prepayment relates to loan repayment terms.
What is the difference between down payment and mortgage?
A down payment is the upfront amount of money a buyer pays towards the purchase of a home, typically expressed as a percentage of the home's total price. In contrast, a mortgage is a loan taken out to finance the remaining cost of the home after the down payment, which the buyer repays over time, usually with interest. Essentially, the down payment reduces the amount needed for the mortgage, while the mortgage is the means by which the buyer funds the majority of the home purchase.
How is an peshgi define?
"Peshgi" is a term used in finance and refers to an advance payment or down payment made ahead of the delivery of goods or services. It is often required by vendors or suppliers as a way to secure a transaction and ensure commitment from the buyer.
What is the minimum down payment required for a car purchase with a 50 down payment?
The minimum down payment required for a car purchase with a 50 down payment is 50 of the total cost of the car.
Do you get your down payment back when you sell your house?
in a way yes. you should sell your home for the market value which is what the home is worth this includes what you paid as a down payment since it lowered the amount that you financed. the only thing that you lose is any closing costs that you must pay plus commissions. you get to keep the difference between what the home is worth and what you still owe.
What is the difference between recession and depression?
The difference between the depression and a recession is a recession is the down on an up and down rollercoaster. While the depression, there was no way to tell when it would end.
What is the down payment on a bugatti?
A down payment for select buyers is $360,000
What is the duration of No Down Payment?
The duration of No Down Payment is 1.75 hours.
