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Equipment that cost 48000 and has accumulated amortization

This is a monetary exchange with a gain or loss

Equipment that cost $48,000 and has accumulated amortization of $38,400 is exchange for similar equipment with a fair value of $14,000 and $4,000 cash is received.

Instructions

Prepare all necessary journal entries

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Accounting Basics: Equipment that cost 48000 and has accumulated amortization

Reference No:- TGS02541766

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Accounting Basics: Equipment that cost 48000 and has accumulated amortization

Reference No:- TGS02541766

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