by Beverlee Zoll
(Eugene, OR)
Beverlee
Received vehicle in payment for work done
I need to know how to record the following transaction:
We are a painting business and have painted a client's home. In exchange, he has given us 2 vans that we will use for painting vehicles. I don't know how to record the transaction.
I need to account for the value of the vehicles received that we will use for our business and take pay off the accounts receivable invoice created when the work was completed to the house.
Comments for Barter Transactions and the IRS/CRA
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