How would you list the car on a personal balance sheet

Reference no: EM132062802

Question: You purchased a car for personal use for $20,000 a few years ago. You paid $5,000 down and borrowed $15,000 to purchase the car. As of today you still owe the bank $6,000 on the loan. The car is currently worth $16,000 according to Kelley Blue Book. How would you list this car on a personal balance sheet for September 9, 2016?

Reference no: EM132062802

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