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ABC Catering Inc purchased a computer for 3400 debiting computer equipment during 2016 and 2017 ABC catering Inc Recorded total depreciation of 2500 on the

ABC Catering Inc purchased a computer for 3400 debiting computer equipment during 2016 and 2017 ABC catering Inc Recorded total depreciation of 2500 on the computer on january 1 2018 ABC traded the computer for a new one paying 3000 cash the fair makret value for the new computer is 5100 journalize avcs exchange of computers assume the exchange had commerical substance Journalize the transaction

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