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4. MNO Inc. purchased an asset for 30,000 +19% VAT. The asset has a useful life of 5 years. After two years, the asset is
4. MNO Inc. purchased an asset for 30,000 +19% VAT. The asset has a useful life of 5 years. After two years, the asset is revalued to a book value of 21,000. Prepare the journal entries for the first three years (including the purchase and VAT) using the gross method.
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