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A company purchased equipment valued at $145.000. It traded in old equipment for a $61,000 trade-in allowance and the company paid $84,000 cash with
A company purchased equipment valued at $145.000. It traded in old equipment for a $61,000 trade-in allowance and the company paid $84,000 cash with the trade-in. The old equipment cost $130,000 and had accumulated depreciation of $78,000. This transaction has commercial substance. What is the recorded value of the new equipment? Multiple Choice $52,000 $61,000 $84,000
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Accounting Principles
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