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Question 35 (4 points) Because of a great deal on the internet, equipment that normally costs $200,000 was snapped up at a bargain for $155,000.
Question 35 (4 points) Because of a great deal on the internet, equipment that normally costs $200,000 was snapped up at a bargain for $155,000. The junior accounting is thinking about recording this as: Equipment 200,000 Cash 155,000 Unearned Revenue 45,000 Explain why this is or is not appropriate using theoretical concepts
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