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1 - 3 : Lapeer Enterprises purchased equipment for $ 7 2 , 0 0 0 on January 1 , 2 0 1 9 .
: Lapeer Enterprises purchased equipment for $ on January The equipment is expected to have a sixyear life and a residual value of $ Lapeer used straightline depreciation to record depreciation expenses. The equipment was sold for $ on December Lapeer Enterprises would record a gainloss from the sale of:
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