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Purple Company purchases 100% of the working interest in an unproved property at a cost of $100,000. Purple later sells the WI, retaining an overriding
Purple Company purchases 100% of the working interest in an unproved property at a cost of $100,000. Purple later sells the WI, retaining an overriding royalty interest. Purple is a successful efforts company and receives $75,000. What amount will be debited to the Investment in ORI account? $______
(Please type your answer as a whole number without decimal places using correct comma placement. Example: 10,000).
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