How should the delivery equipment be recorded in the account

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Reference no: EM132830350

Question - Andres Bongo, one of the partners of a new partnership, contributes delivery equipment that had originally cost P350,000 and on which accumulated depreciation of P275,000 had been recorded. The partners agree on a valuation of P150, 000. How should the delivery equipment be recorded in the accounts of the partnership?

Reference no: EM132830350

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