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26 On January 1 Year , Raven Limo Service, Incorporated paid $64,000 cash to purchase...

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26 On January 1 Year , Raven Limo Service, Incorporated paid $64,000 cash to purchase a timousine Tholimo was expected to have a siwyear useful life and a $10,000 salvage value. On January 1, Year 5. the time was sold for $30,000 cash. Assuming Raven uses straight line depreciation, the Company would recognize a Me Choice $2.000 $2.000 520000 120.000 gan

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