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On 1 / 1 / 2 2 , S sold equipment with a cost of $ 2 2 0 , 0 0 0 , accumulated

On 1/1/22, S sold equipment with a cost of $220,000, accumulated depreciation of $70,000 and aremaining useful life of 5 years, to its parent company P, for $180,000. In the 2023 elimination entry, S retained earnings

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