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General Accounting Discussions: Set up of new bought company

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    The company was bought lock stock & barrel so to speak. Escrow calculted price was: 35K Fixed Assets, 25K Goodwill, 15K covenant not to compete total price 75K. There is also outstanding bills (not sure how much) and outstanding AR in the amount of 18K.
    How do I put this on the books. Also during the first 3 mo. he used personal money to transfer to pay bills. Should that be considered capital or a loan?

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