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14 points) Tatoo Engineering traded in an old delivery truck for a new one. The old truck had a cost of RM75,000 and accumulated depreciation
14 points) Tatoo Engineering traded in an old delivery truck for a new one. The old truck had a cost of RM75,000 and accumulated depreciation of $60,000. The new truck had an invoice price of RM125,000. Huffington was given a RM12,000 trade-in allowance on the old truck, which meant they paid RM113,000 in addition to the old truck to acquire the new truck. If this transaction has commercial substance, what is the recorded value of the new truck? RM75,000 RM125,000 RM15,000 RM113,000
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