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-   -   Reclassifying journal entry from a prior year (https://www.askmehelpdesk.com/showthread.php?t=786013)

  • Mar 4, 2014, 02:55 PM
    arlenelav
    Reclassifying journal entry from a prior year
    A construction project was started a year ago. The expenses related to this project were posted under an expense account instead of Construction In Progress. Since the year has been closed, what entry do I make to move the construction costs from expenses to "Construction In Progress" under Assets?

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