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On April 15, 2020, The City of Richmond ordered new equipment at an anticipated cost of $150,000. It received the ordered equipment on May 1,

On April 15, 2020, The City of Richmond ordered new equipment at an anticipated cost of $150,000. It received the ordered equipment on May 1, 2020, accompanied by an invoice for $148,000." The journal entry to record the above transaction on May 1, 2020 includes

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