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Fixed Assets - EBS (MOSC)

Revaluation of FA Journal Entries

Jan 23, 2014 1:03AM 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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