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Page: 1 Accounting fore Rutechase of fixed Assets to record the plazchale of a fixed asset debit the asset account for the purchase price and creedit the cash account tore the same amount A temporary For excomple purchased. $3,000 woh peny of furniture When the fute- niture anglives, the accoun- tant debits the fixed assets laccount and geedits the cash account do the furniture. for For assets bought on inst allments wehe inter- est rate. Gauge ambanged fore other assets assets