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Bramble Company purchased an electric wax melter on April 30, 2020, by trading in its old gas model and paying the balance in ca

Bramble Company purchased an electric wax melter on April 30, 2020, by trading in its old gas model and paying the balance in ca The following data relate to the purchase. List price of new melter $19,276 Cash paid 12,200 Cost of old melter (5-year life, $854 salvage value) 13,664 Accumulated Depreciation-old melter (straight-line) 7,686 Secondhand fair value of old melter 6,344

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