A truck was acquired by trading in an older truck that has the same value in use. The newer truck has options that will make it more comfortable for the driver; however, the company remains in the same economic position after the exchange as before. Facts concerning the trade-in are as follows: Cost of truck traded $105,000 Accumulated depreciation to date of exchange 43,000 Fair market value of truck traded 87,000 Cash paid by Crane 25,000 Fair market value of truck acquired 112,000

MY ANSWER

Vehicles ???? Accumulated Depreciation - Vehicles $43000 Vehicles $105000 Cash ?????? I need the amount for the Original Truck and the cash