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the machinery has a useful life of 5 years On January 1 Year 1 Paterson Company received a grant of $400,000 to assist with the

the machinery has a useful life of 5 years
On January 1 Year 1 Paterson Company received a grant of $400,000 to assist with the purchase of machinery that had a cost of $1.000.000, You are required to make the journal entries on January 1 Vear 1 ONLY , assuming the company uses the deferred revenue method 2 III A- 1 B Dr $ Crs Date Accounts

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