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Will the require journal entries and if so what do

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Problem 1: There was a custom order car for a doctor but due to financial problems, he is unable to purchase the vehicle thus the company repossessed the vehicle. The vehicle is included in inventory at a cost of $35,000 (already included in inventory) but requires minor moderations, costing up to $5000 to make it ready for resale at a price of $35,000. Will this require journal entries and if so what do

Reference no: EM132790955

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