Assets addition does not make an entry in Accumulated Depreciation
Assets addition does not make an entry in Accumulated Depreciation.
We just did an asset addition - the asset is added and the assets entry was to debit the Asset account and credit the asset under construction account.
The accumulated depreciation account was not populated by the asset addition.
Did we miss a step when we added the asset so that the accumulated depreciation account would be completed?
Please see the screenprints in the attached file.
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