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Would the fact that it was purchased be considered

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Question - According to other courthouse records and a loan application obtained via subpoena from Baxter's Boats and Jet Skis, the suspect owns a ski boat that was purchased in 2016 for $52,500. The boat loan was not listed on the credit card application noted above, but Baxter's records helped estimate the December 31, 2017, loan at about $21,000, with payments to principal of about $200 per month plus interest. Would the fact that it was purchased be considered an asset and the loan be considered a liability?

Reference no: EM133088346

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