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#5) Complete this journal entry: Company purchases fixed assets of $120,000,000 that will have a useful life of 10 years and no salvage value on

#5) Complete this journal entry:

Company purchases fixed assets of $120,000,000 that will have a useful life of 10 years and no salvage value on January 2, 2018. $20,000,000 was paid with cash with the remaining balance on account. These assets are depreciated using the straight line method.

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