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Bulldog, Inc exchanged an old road grader, plus $250,000 in exchange for a newer model. The cash price (fair value) for the new model was

Bulldog, Inc exchanged an old road grader, plus $250,000 in exchange for a newer model. The cash price (fair value) for the new model was $500,000. The old road grader has an original cost of $750,000 and accumulated depreciation of $450,000. Prepare the journal entry for this exchange. 12pt Paragraph B

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