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As part of the initial investment, Ray Blake contributes equipment that had originally cost $102,500 and on which accumulated depreciation of $76,875 has been recorded.
As part of the initial investment, Ray Blake contributes equipment that had originally cost $102,500 and on which accumulated depreciation of $76,875 has been recorded. If similar equipment would cost $152,900 to replace and the partners agree on a valuation of $53,100 for the contributed equipment, what amount should be debited to the equipment account
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