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Prepare the entries that are required in 2023 to record the payment to the contractor for the building and the receipt of the provincial government

Prepare the entries that are required in 2023 to record the payment to the contractor for the building and the receipt of the provincial government assistance. Assume that the company treats the assistance as a reduction of the asset's cost. Also prepare any adjusting entries that are needed at the company's year ends, December 31, 2023 and 2024

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