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Question 1 (Elements: 1 1-1.3, 2.1, 3.1-3.3) On 1 July 2012, MGA Engineering purchased a machine on credit for $120,000 plus GST. The asset has

Question 1 (Elements: 1 1-1.3, 2.1, 3.1-3.3) On 1 July 2012, MGA Engineering purchased a machine on credit for $120,000 plus GST. The asset has an expected life of 4 years and with an expected residua...

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