What is the journal entry for fixed assets?

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Solution

The journal entry for fixed assets is as below:

DATE

PARTICULARS

DEBIT

CREDIT

XXXX

Furniture and fixtures account….Dr.

XXX

To cash account

XXX

(Being furniture and fixtures bought in cash).

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DATE	PARTICULARS	DEBIT	CREDIT
XXXX	Furniture and fixtures account….Dr.	XXX
To cash account	XXX
(Being furniture and fixtures bought in cash).