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12/31/19: Buy $80,000 BMW (6-yr UL, SL, 20% SV): paying 20% & signing 5% note, payable in 24 months. Question: Journal entries for 12/31/2020.

12/31/19: Buy $80,000 BMW (6-yr UL, SL, 20% SV): paying 20% & signing 5% note, payable in 24 months.

Question: Journal entries for 12/31/2020.

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