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| Question 25 2 pts Jones Company purchased equipment that it plans to use in its business from Smith Inc in exchange for a $195,000

| Question 25 2 pts Jones Company purchased equipment that it plans to use in its business from Smith Inc in exchange for a $195,000 note payable due in 18o days. The journal entry to record this transaction would include which of the following: Debit to equipment Debit to depreciation expense Credit to long term notes payable Credit to retained earnings

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