If machinery is bought by signing a promissory make a note of will be considered an asset and a liability?

Answers:
all the set up for a company is a write past its sell-by date for i think 3 years as it depreciates but the irs will answer that for free
Liability.....)(
To record the purchase of machinery with a make a note of
Debit machinery (to record the asset on the books)
Credit Note payable (to record the liability on the books) Source(s): I hold a BS in accounting
The machinery will be your asset and the note(loan) will be the liability.

Related Questions:
Nice concept more or less the plough machinery but where on earth can i find some pics?   Where do I find out the price of used machinery...?   Human genome decode machinery?   What time contained by the morning can a builder start work on a building site near diggers, machinery etc?   A-z of tools and machinery ( HOMEWORK HELP )?  
  • Gaining muscle mass, but don't own access to really much machinery.?
  • Like, if you devour profoundly of donuts beforehand the Rapture, is that going to put a strain on the Rapturing machinery?
  • After Peter loses his work what piece of starchy machinery did Brian use...?
  • Is here religious, spiritual or moral significance to Labor-Saving Machinery & Computerization?
  • List a general scale of equipment / machinery that trinkets designer would use?