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Flag this Question Question 412 pts Clearwater Co. owned all of the voting common stock of Kelley, Inc. On January 2, 2020 Clearwater sold equipment
Flag this Question Question 412 pts Clearwater Co. owned all of the voting common stock of Kelley, Inc. On January 2, 2020 Clearwater sold equipment to Kelley for $350,000. The equipment had cost Clearwater $425,000. At the time of the sale, the balance in accumulated depreciation was $125,000. The equipment had a remaining useful life of eight years and no salvage value. For the consolidated balance sheet at December 31, 2021, at would amount would the equipment (net) be included? a. $225,000 b. $262,500 c. $306,250 d. $-0
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