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bevasksquestion
Mar 25, 2009, 08:34 AM
What journal entry do I make to record the value of fixed assets acquired months ago?

MaggieMouse
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.