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John Co. purchased equipment on January 1, 2012 for $3,000,000 and paid cash for $2,000,000 and issued a 2-year note payable for the rest. John

John Co. purchased equipment on January 1, 2012 for $3,000,000 and paid cash for $2,000,000 and issued a 2-year note payable for the rest. John also paid $20,000 cash for shipping and installation of ...

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