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What amount should be debited to the equipment account

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Question - As part of the initial investment, Ray Blake contributes equipment that had originally cost $ 105,600 and on which accumulated depreciation of $79,200 has been recorded. If similar equipment would cost $161,500 to replace and the partners agree on a valuation of $58,800 for the contributed equipment, what amount should be debited to the equipment account?

Reference no: EM133063235

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