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Home Accounting Dictionary Letter A Asset Accrual Method Definition
 
 

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Asset Accrual Method Definition:

In hire and installment purchases, a method under which, the asset account is debited initially with the down payment (if any). Each subsequent installment is divided into two parts, one part representing the portion of purchase price (cash price) and other representing interest on balance due. The asset is debited with the purchase price paid in each installment.

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