Acompany bought a new display case for $42,000 and was given a trade-in of $2,000 on an old display case, so the company paid $40,000 cash with the trade-in. the old case had an original cost of $37,000 and accumulated depreciation of $34,000. if the transaction has commercial substance, the company should record the new display case at:

$42,000

Explanation:

If the transaction has commercial substance, the company should record the new display case at the original cost or fair value of the asset.

The fair value of the asset is $42,000 which involves

= Cash paid for display case + trade-in old display case

= $40,000 + $2,000

= $42,000

All other information which is given is not relevant. Hence, ignored it

answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;

answerchemical property;