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What do I do to indicate I no longer own a car after trading it in for another car?
I had my old car listed as an asset, not tied to any loans because it had been paid off already. I traded in my old car and got $1000 trade in value when I got my new car. I've listed the new car as an asset tied to the loan. But I don't know what to do with the old car's asset account. Do I just close it?