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As part of the initial investment a partner contributes equipment that had originally cost $110.000 and on which accumulated depreciation of $85.000 has been recorded.
As part of the initial investment a partner contributes equipment that had originally cost $110.000 and on which accumulated depreciation of $85.000 has been recorded. If similar equipment would cost $140.000 to replace and the partners agree on a valuation of $45.000 for the contributed equipment what amount should be debited to the equipment account
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