Cedric Company recently traded in an older model computer for a new model The old model's book value was $189,000 (original cost of $419,000 less $230,000 in accumulated depreciation) and its fair value was $210,000 Cedric paid $61,000 to complete the exchange which has commercial substance Required Prepare the journal entry to record the exchange (If no entry is required for a trancaction event, select No journal entry required in the first account field ) View transaction list Journal entry worksheet Record the exchange of assets Note Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal edric Company recently traded in an older model computer for a new model The old model's book value was $290,000 (original ost of $610,000 less $320,000 in accumulated depreciation) and its fair value of the old equipment is $270,000 Cedric paid $70,000 complete the exchange which has commercial substance equired repare the journal entry to record the exchange (If no entry is required for a transaction event, select No journal entry required n the first account field ) View transaction list Journal entry worksheet Record the exchange of assets Note Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal

Question

Cedric Company recently traded in an older model computer for a new model  The old model's book value was $189,000 (original cost of $419,000 less $230,000 in accumulated depreciation) and its fair value was $210,000  Cedric paid $61,000 to complete the exchange which has commercial substance  Required Prepare the journal entry to record the exchange  (If no entry is required for a trancaction event, select  No journal entry required  in the first account field ) View transaction list Journal entry worksheet Record the exchange of assets  Note  Enter debits before credits  Event General Journal Debit Credit Record entry Clear entry View general journal edric Company recently traded in an older model computer for a new model  The old model's book value was $290,000 (original ost of $610,000 less $320,000 in accumulated depreciation) and its fair value of the old equipment is $270,000 Cedric paid $70,000 complete the exchange which has commercial substance  equired  repare the journal entry to record the exchange  (If no entry is required for a transaction event, select No journal entry required  n the first account field ) View transaction list Journal entry worksheet Record the exchange of assets  Note  Enter debits before credits  Event General Journal Debit Credit Record entry Clear entry View general journal

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Cedric Company recently traded in an older model computer for a new model. The old model's book value was $189,000 (original cost of $419,000 less

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