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Please describe how you would account for the following: A company's fixed asset policy is that they capitalize purchases > $2,500. 1. A laptop costing
Please describe how you would account for the following:
A company's fixed asset policy is that they capitalize purchases > $2,500.
1. A laptop costing $2,000 is purchased Oct 1 2020. What are the journal entries for Oct, Nov, and Dec 2020?
2. A copier costing $5,500 is purchased Oct 15 2020. What are the journal entries for Oct, Nov, and Dec 2020?
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