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When purchasing equipment, what object code should be used?

April 26, 2017code equipment object purchasing Used

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When purchasing equipment, what object code should be used?

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If an item is over $5,000 and charged to a grant account (4-xxxxx), use natural account (object code) 72600. If an item is less than $5,000 and has a useful life of more than one year, use natural account (object code) 22400.