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A, Malawi Auto traded one of it used trailers( cost 40,000, Accumulated depreciation 36,000) for another used trailer with a fair value of 6,400. Malawi
A, Malawi Auto traded one of it used trailers( cost 40,000, Accumulated depreciation 36,000) for another used trailer with a fair value of 6,400. Malawi also paid 600 to complete the transaction.
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What type of transaction exchange is described above?
Prepare a journal entry to record the transacion?
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