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Check my work 6 Nate's Hot Dogs exchanges long-term assets with Lizzy's Lemonade. Nate receives a delivery truck and gives up a piece of machinery.
Check my work 6 Nate's Hot Dogs exchanges long-term assets with Lizzy's Lemonade. Nate receives a delivery truck and gives up a piece of machinery. The fair value and book value of the machinery were $26,000 and $21,000 (original cost of $32,000 less accumulated depreciation of $11,000), respectively. Since the delivery truck was worth $30,000, Nate paid an additional $4,000 in cash to Lizzy. Record the exchange for Nate's Hot Dogs. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 10 points eBook View transaction list References Journal entry worksheet 1 > Record the exchange for Nate's Hot Dogs. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Mc Graw resto
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