Is there a regulation as to the recording of assets with credit card points? We have bought computers with credit card points and I want to make sure that I record properly. I am assuming that it would be a debit to the asset account and a credit to other income. If there's a regulation could you also let me know what the code is so that I may have it for my records.
Thanks for the help,
Sherry
P.S. further info, this was a business credit card and is paid by the business.