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Prepare entries for the appropriations

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Reference no: EM13513146

In both 19X5 and 19X6, the Lucky Corp. appropriated $60,000 of retained earnings for a future machine acquisition. In 19X7, the company bought the machine for $130,000 cash.

Prepare entries for:

(a) The appropriations.

(b) The acquisition of the machine.

(c) The disposition of the appropriations.

Reference no: EM13513146

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