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Donated equipment for which the fair value has been determined should be recorded as a debit to the appropriate equipment account and a credit to
Special Trust
A fiduciary relationship or arrangement in which one party holds property or assets for the benefit of another party, marked by a particular purpose or objective.
Intended Beneficiary
A person or entity that is specifically designated to benefit from a contract, trust, or estate, even though they are not a direct party to the agreement.
Lenders Bank
A financial institution that provides loans to individuals or entities and expects to be repaid with interest.
Food Truck
A mobile vehicle equipped to cook, prepare, and sell food at different locations.
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