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ParCorp is selling inventory and a building to an unrelated company SmaCorp for $90,000. The cost, book value, and fair value of the building are
ParCorp is selling inventory and a building to an unrelated company SmaCorp for $90,000. The cost, book value, and fair value of the building are $80,000, 60,000, and 100,000. The cost, book value, and fair value of the inventory are $10,000, 10,000, and 10,000. Provide ParCorp's journal entry.
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