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A machinery has a carrying amount of $30,000 being original cost of $60,000 less accumulated depreciation of $30,000. The asset is revalued downwards to $25,000.

A machinery has a carrying amount of $30,000 being original cost of $60,000 less accumulated depreciation of $30,000. The asset is revalued downwards to $25,000. What is the appropriate entry to write...

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