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A Company Purchased a Garage from a Business with a 7

Question 110

Multiple Choice

A company purchased a garage from a business with a 7%, 4-year, $75,000 note. The seller's book value for the garage was $42,750. What is the journal entry to record this purchase? A company purchased a garage from a business with a 7%, 4-year, $75,000 note. The seller's book value for the garage was $42,750. What is the journal entry to record this purchase? A) Option: A B) Option: B C) Option: C D) Option: D


A) Option: A
B) Option: B
C) Option: C
D) Option: D

Correct Answer:

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