On January 1, 2017, Grouper Corporation sold a building that cost $257,510 and that had accumulated depreciation of $102,150 on the date of sale. Grouper received as consideration a $247,510 non-interest-bearing note due on January 1, 2020.
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The adjusted trial balance of Kingbird Company shows the following data pertaining to sales at the end of its fiscal year, October 31, 2020: Sales Revenue $800,400, Delivery Expense $13,100, Sales Returns and Allowances $25,720, and Sales Discounts
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