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Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July
Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1, 2025:Record the closing entry for revenue accounts
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