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Lesson 1: Fixed Assets Example 1: Purchased $250,000 in plant assets by paying cash. Journal entry: Sold plant assets with a cost of $60,000 and

Lesson 1: Fixed Assets Example 1: Purchased $250,000 in plant assets by paying cash. Journal entry: Sold plant assets with a cost of $60,000 and accumulated depreciation of $20,000, yielding a gain of...

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