Purchase of Fixed Assets on credit basis is recorded in ........

General Accounting Principles Accounting cycles

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Purchase of Fixed Assets on credit basis is recorded in

Purchase Book

Cash Book

Journal Proper

Journal

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Explanation:

Purchase of fixed assets on credit is originally recorded in Journal Proper. On the assumption that the asset was purchased on credit, the initial entry is a credit to accounts payable and a debit to the applicable fixed asset account for the cost of the asset.