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All question information is present Hamalaya Corporation wishes to exchange a machine used in its operations for similar machine used in the operations of Wally

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Hamalaya Corporation wishes to exchange a machine used in its operations for similar machine used in the operations of Wally Corporation. Assume the following information about the machines. Hamalaya Wally Machine cost BD 80,000 BD 76,000 Accumulated deprecation 30,000 35,500 Fair value 46,000 46,000 Required: Prepare the journal entry to record this transaction on the books of Wally. Assume that the exchange has commercial substance. For the toolbar press ALT+F10 RO

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