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1. Puff Corporation acquired a 60% interest in Scot Corporation for P200,000 cash on January 1, 2017 when the stockholders' equity of Scot consisted of

1. Puff Corporation acquired a 60% interest in Scot Corporation for P200,000 cash on January 1, 2017 when the stockholders' equity of Scot consisted of P200,000 capital stock and P25,000 retained earn...

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