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    bevasksquestion's Avatar
    bevasksquestion Posts: 1, Reputation: 1
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    #1

    Mar 25, 2009, 08:34 AM
    journal entry for fixed assets
    What journal entry do I make to record the value of fixed assets acquired months ago?
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Apr 1, 2009, 07:26 PM

    Dr. Fixed Asset, Cr. Cash/Notes Payable, depends on the nature of payment.

    Also, you need to record the depreciation for the months that you used them. Dr. Depreciation expense Cr. Accumulated depreciation.
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