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effective interest method. 0.111 Donations 10.36 Company I receives a building as a donation and spends $5,000 making it ready for use. At the

effective interest method. 0.111 Donations 10.36 Company I receives a building as a donation and spends $5,000 making it ready for use. At the time of the donation, the building had a FMV of $95,000. Prepare the entry for the donation and the $5,000 expenditure.

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