How do we determine the beginning date for recording inventorial equipment and furniture?
For cutoff purposes, code the equipment and furniture based on the date the University will order the property. Therefore in June 1998, code furniture costing at least $1,500 as a capital purchase if the item will be ordered on or after July 1, 1998; and in June 1999, do not code equipment under $1,500 if the item will be ordered on or after July 1, 1999.
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