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Tito purchased equipment to be used in his business on January 9 of the current year. In December, he is considering selling the equipment. If

Tito purchased equipment to be used in his business on January 9 of the current year. In December, he is considering selling the equipment. If Tito sells in December, what is the asset classification? If he sells it on January 10 of next year, what is the asset classification?

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