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On January 8, Damien Lawson transfers ownership of several pieces of office equipment to his new business, JumpStart. When new, these items were worth $22,130.

On January 8, Damien Lawson transfers ownership of several pieces of office equipment to his new business, JumpStart. When new, these items were worth $22,130. The fair market value of the equipment is $9,430.

Required:

Journalize this transfer.

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