Business
Business, 08.06.2021 20:20, NijaNij

As part of the initial investment, Ray Blake contributes equipment that had originally cost $97,300 and on which accumulated depreciation of $72,975 has been recorded. If similar equipment would cost $140,300 to replace and the partners agree on a valuation of $48,800 for the contributed equipment, what amount should be debited to the equipment account

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As part of the initial investment, Ray Blake contributes equipment that had originally cost $97,300...

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