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maxxiswheel
Nov 5, 2007, 09:41 AM
Okay, we have a company vehicle, an employee backed into something and damaged the car. We are not going through insurance to settle, we are paying out of pocket. Since this is a fixed asset, do we put the repairs against the same fixed asset account, or do we use a cost of repairs and maintenance account, or an auto expense account, I'm just not sure.