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Question#15: Big Wheels Inc. acquired a moving vehicle with a 20year useful life for $115,000. At end of Year 8, the vehicle's transmission will require

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Question#15: Big Wheels Inc. acquired a moving vehicle with a 20year useful life for $115,000. At end of Year 8, the vehicle's transmission will require replacement at a cost of $27,000. Required: Journalize the purchase of the new transmission (at end of Year 8)? Account Name Debit Credit Question #16: Required: Journalize the cost of the original transmission upon replacement (assuming a 4% annual price increase since time of purchase). Account Name Debit Credit

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