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On January 2,2024, Thomas Company purchased land that cost $670,000, a building on the land...

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Accounting

On January 2,2024, Thomas Company purchased land that cost $670,000, a building on the land that cost $1,100,000, and equipment that cost $70,000. The building has an estimated useful life of 22 years. The equipment has an estimated useful life of 7 years.

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