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An asset has 2 prices, cash ($100) and credit ($150). If we bought the asset by credit, How we should treat the difference between the 2 prices?

Accounting
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Question added by AHMAD OMAR CMA-CertIFR , Accounting Manager , NADIA BAKHURJI ARCHITECTS & INTERIOR DESIGN CONSULTANTS
Date Posted: 2016/11/18
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Kumel Abbas

it is a loss when we have money and purchase it in a credit 

alsayed elshereif
by alsayed elshereif , Administration and Finance Manager , Future Harvest Est.

It's no relationship between the price of assets and the way of how we got or purchased it.

When purchased by credit, will treated as

Dr. Asset

Cr. Bank

Regards,,

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