Capital Equipment - Trade In

Object Code:

7099

Object Category:

Expense

Object Level:

Capital Acquisitions

Object Consolidation:

Capital Expense

Object Description:

To record the value of a trade-in, debit the capital object code used for the new asset, and credit object code 7099 for the amount of the trade-in. The will properly record the value of the new asset to include the actual purchase price plus the trade-in value.