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ABC Co. receives a bill from Computer
Company which it pays on January 6, 2003. Assets are recorded when legal
possession is taken, not when the cash actually changes hands.
? Asset (computer) is recorded in December 2002 on ABC's books because ABC
takes legal title to it, along with a liability (accounts payable)...
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ABC Co. receives a bill from Computer
Company which it pays on January 6, 2003. Assets are recorded when legal
possession is taken, not when the cash actually changes hands.
? Asset (computer) is recorded in December 2002 on ABC's books because ABC
takes legal title to it, along with a liability (accounts payable)...
Essay fragment
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