Business, 25.10.2019 19:43 martdrea13

Afixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar asset priced at $50,000 (fair market value) in a transaction with commercial substance. assuming a trade-in allowance of $4,000,at what cost will the new equipment be recorded in the books?

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Afixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar...

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