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On January 20, Year 2, a warehouse that was fully intact and undamaged at December 31, Year 1, is destroyed by fire. The financial statements have not yet been issued. What is the correct accounting treatment under ASC 855?
On January 20, Year 2, a warehouse that was fully intact and undamaged at December 31, Year 1, is destroyed by fire. The financial statements have not yet been issued. What is the correct accounting treatment under ASC 855?