The president of Dozier Corporation donated a building to Mandy Corporation. The building had an original...

 

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The president of Dozier Corporation donated a building to Mandy Corporation. The building had an original cost of $200,000, a book value of $75,000, and a fair market value of $180,000. To record this donation, Mandy would a. make a memorandum entry b. debit Building for $75,000 and credit Gain for $75,000 c. debit Building for $200,000 and credit Gain for $200,000 d. debit Building for $180,000 and credit Gain for $180,000 The president of Dozier Corporation donated a building to Mandy Corporation. The building had an original cost of $200,000, a book value of $75,000, and a fair market value of $180,000. To record this donation, Mandy would a. make a memorandum entry b. debit Building for $75,000 and credit Gain for $75,000 c. debit Building for $200,000 and credit Gain for $200,000 d. debit Building for $180,000 and credit Gain for $180,000

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Answer debit Building for 180000 and credit Gain for 180000 Explaination The Fair value of the PPE s... View the full answer