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insurance proceeds

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April 24, 2012 02:54PM
A client received insurance proceeds for a loss event related to a machine shed. We want to record a reduction in the basis of the machine shed. The entry is to debit income and credit the fixed asset. How can I do this in Farm Works and have it reduce the basis in the fixed asset?

insurance proceeds

Jim MarzolfApril 24, 2012 02:54PM

Re: insurance proceeds

Kathy ClineApril 24, 2012 02:59PM

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