Jasper purchased a building from Penske for $1,000,000 on January 1st. The building originally cost...
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Accounting
Jasper purchased a building from Penske for $1,000,000 on January 1st. The building originally cost $1,000,000 and had accumulated depreciation of $300,000. The building has a remaining useful life of 20 years. Prepare the December 31, consolidation entry. Prepare the consolidation entry for the year after the sell.
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