[GNC] Split ownership

[Fred Tydeman]

I see I was not clear in my description of the transactions.

I wrote a check for the full price of a golf cart to a dealer.
The next day, a friend gave me their half of the cost.
Some years later, I sold the golf cart and I got the full selling price
from the buyer.
A few days later, I gave half of the selling price to my friend.

I guess I could record the purchase as 1/2 to golf cart asset
and 1/2 to short term loan to friend.  And that loan is paid
back the next day.

And the same idea would be used for the sale.

On Mon, Jun 27, 2022 at 4:01 PM Fred Tydeman <tydeman.fred at gmail.com> wrote:

> A friend and I bought a golf cart, each paying 1/2 of the price.
> Some years later, we sold that golf cart (for less than we paid, splitting
> what we got).
> How should all of that be recorded?
>