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THANK YOU!!!! On Jan 2, 2020, a subsidiary sells to its parent equipment that had cost $10,000. The selling price was $8,750 and accumulated depreciation

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On Jan 2, 2020, a subsidiary sells to its parent equipment that had cost $10,000. The selling price was $8,750 and accumulated depreciation on that date was $3,000. The subsidiary and the parent agree that the equipment should be depreciated over its remaining life of 7 years. Required

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