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Equipment with an estimated market value of $55,000 is offered for sale at $75,000. the equipment is acquired for $20,000 in cash and a note

Equipment with an estimated market value of $55,000 is offered for sale at $75,000. the equipment is acquired for $20,000 in cash and a note payable of $40,000 due in 30 days. The amount used in the buyer's accounting records to record this acquisition is

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