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Business, 08.01.2021 04:50 jvontaemyles14

As part of the initial investment, Ray Blake contributes equipment that had originally cost $101,300 and on which accumulated depreciation of $75,975 has been recorded. If similar equipment would cost $158,400 to replace and the partners agree on a valuation of $51,500 for the contributed equipment, what amount should be debited to the equipment account

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As part of the initial investment, Ray Blake contributes equipment that had originally cost $101,300...

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