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Shamrock company traded a used welding machine for office

Question - Shamrock Company traded a used welding machine (cost $9,180, accumulated depreciation $3,060) for office equipment with an estimated fair value of $5,100. Shamrock also paid $3,060 cash in the transaction.

Prepare the journal entry to record the exchange. (The exchange has commercial substance.)

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Accounting Basics: Shamrock company traded a used welding machine for office

Reference No:- TGS02379415

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Accounting Basics: Shamrock company traded a used welding machine for office

Reference No:- TGS02379415

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