0,000 and on which there is accumulated depreciation of ss5,000 (indluding depreciation for the current year to d nt entries to record the exchange of the machinery under each of the following assumptions: a. Price of new, $120,0; trade-in allowance on old, sa,000; balance paid in cash. If an amount box does not require an entry, leave t b. Price of new, $120,000; trade-in allowance on old, $34,000; balance paid in cash. If an amount box does not require an entry, leave it blank. acquired alt a cas of s80,000 and on which there is accumuieted deprecsatsion of $35,000 ginouding depreciation for the current year to dace) is exchanged for similiar machinery. Assume that the transaction has commercial substance. For reporting purposes, present entries to record the exchenge of the machinery under each ef the following assumptions does not require an entry, leave iR biank e of e, $ 120,000, trade-in alowance on os, $34,000, belance paid in cesh. 3r an amount box does not require an entry, leave entry blank