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Base Co. has a machine that was purchased January 1, 2004 for $120,000. It has a 10 year life and a $20,000 residual value. They

Base Co. has a machine that was purchased January 1, 2004 for $120,000. It has a 10 year life and a $20,000 residual value. They sold the machine on Aug 20, 2009 for $32,000 cash.

Provide all journal entries necessary for the Aug 20 tansaction.

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