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repairs

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Operating expenses made to return an asset to its previous condition (rather than to make the asset more than it was originally). The amount is charged to an account such as Repairs and Maintenance Expense in the period when the repair is made.

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  • Debits and Credits
  • Adjusting Entries
  • Financial Statements
  • Balance Sheet
  • Income Statement
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  • Accounts Receivable and Bad Debts Expense
  • Accounts Payable
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Certificate - Debits and Credits
Certificate - Adjusting Entries
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Certificate - Income Statement
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Certificate - Accounts Receivable and Bad Debts Expense
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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