As part of the initial investment, Ray Blake contributes equipment that had originally cost $96,100 and on which accumulated depreciation of $72,075 has been recorded. If similar equipment would cost $164,400 to replace and the partners agree on a valuation of $47,900 for the contributed equipment, what amount should be debited to the equipment account
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As part of the initial investment, Ray Blake contributes equipment that had originally cost $96,100...
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