The rebate on the purchase of an automobile should be recorded as a reduction of the automobile's cost.
The lower automobile cost will result in lower depreciation expense.
The rebate on the purchase of an automobile should be recorded as a reduction of the automobile's cost.
The lower automobile cost will result in lower depreciation expense.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com