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QUESTION
April 1 Purchased land for $2,130,000. May 1 Sold equipment that cost $780,000 when purchased on January 1, 2005. The equipment was sold for $450,000....
April 1 Purchased land for $2,130,000. May 1 Sold equipment that cost $780,000 when purchased on January 1, 2005. The equipment was sold for $450,000. June 1 Sold land purchased on June 1, 1999, for $1,500,000. The land cost $400,000. July 1 Purchased equipment for $2,000,000. Dec. 31 Retired equipment that cost $500,000 when purchased on December 31, 1999. No salvage value was received.
