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Golden Co Ltd has donated a vehicle to Bushman Enterprises as a result of publicity about the plight of Bushman Enterprises after bushfires destroyed most
Golden Co Ltd has donated a vehicle to Bushman Enterprises as a result of publicity about the plight of Bushman Enterprises after bushfires destroyed most of its fleet of vehicles. The vehicle had cost Golden Co $25 000 and has accumulated depreciation of $10 000. Its market value is $20 000. How should the asset transfer be recorded in both companies' books?
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