(L04) Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer with...
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(L04) Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer with a fair value of $3,300. Navajo also paid $500 in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.)
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