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Can someone please give the journal entry for the governmental-wide account on this: The city traded in a pickup truck used in general government operations
Can someone please give the journal entry for the governmental-wide account on this:
The city traded in a pickup truck used in general government operations for a new pickup truck, paying a difference of $15,000.The old pickup truck was purchased four years ago at a cost of $21,000.At the time it had an estimated useful life of five years and an estimated salvage value of $6,000.At the time of the trade the old truck had a fair value of $10,000.
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