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Question 32 1 pts Johnson Incorporated purchases a Major Piece of Manufacturing Equipment for $700,000 on 01/01/2020 in Cash. The Machine has a salvage value

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Question 32 1 pts Johnson Incorporated purchases a Major Piece of Manufacturing Equipment for $700,000 on 01/01/2020 in Cash. The Machine has a salvage value of $100,000 and a useful life of 6 Years. Given this fact pattern: What journal entry should be recorded on 01/01/2020 to account for the purchase of this equipment? BIVAA. IX EX 1 1 1 - V G T 12pt Paragraph

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