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a)The company purchases equipment with $20,000 cash and a $40,000 bank loan. f)The company sells the above equipment for $50,000 cash. It has recorded depreciation
a)The company purchases equipment with $20,000 cash and a $40,000 bank loan.
f)The company sells the above equipment for $50,000 cash. It has recorded depreciation expense on its General Ledger of $15,000 for the prior and current years up to the date of this sale.
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