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A company had a building destroyed by fire. The building originally cost $650,000, and its accumulated depreciation as of the date of the fire was $300,000. The company received $400,000 cash from an insurance policy that covered the building and will use that money to help rebuild. Prepare the single journal entry to record the destruction of the building and the receipt of cash from the insurance company.
The Flu
A common viral infection that affects the respiratory system, including the nose, throat, and lungs; also known as influenza.
A Cold
A common viral infection that affects the nose, throat, and sinuses, causing symptoms such as sneezing and coughing.
Pneumonia
A condition of lung inflammation usually caused by bacterial or viral infection, resulting in difficulty breathing and other symptoms.
Community College
A type of educational institution providing higher education and lower-level tertiary education, granting certificates, diplomas, and associate's degrees.
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