Fixed Assets - EBS (MOSC)

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Revaluation of FA Journal Entries

edited Jan 27, 2014 3:15AM in Fixed Assets - EBS (MOSC) 6 commentsAnswered
 When an Asset is Revalued 

DR  Asset

DR Acc. Dep

CR Asset Clearing

My question is what happens next in the Asset Clearing account?

Do we have to make a  manual journal entry each time we revalue an asset to remove it from asset clearing?

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