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

    Feb 25, 2008, 05:02 PM
    Capital Assets
    What would the journal entry be when you purchase a capital asset and payment has not yet been made?
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Feb 26, 2008, 10:57 AM
    If it carries a note then dr. asset, cr. Notes payable, depends on what the collaterals are.
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