We purchased a used car for our business. We paid $3000 with our business credit card, which we paid fully from our business bank account when the bill was due. The remainder of the vehicle price, taxes, and fees were paid using personal funds, using a personal check. I think that I will depreciate this vehicle, but am unsure how to record the transactions. Also, do I need to separate the vehicle price from the taxes & fees when recording the loan? Thanks in advance!
