Check On January 2, 2018, Bering Co. disposes of a machine costing $32,600 with accumulated depreciation of $17,561. Prepare the entries to record the disposal under each of the following separate assumptions, 2. The machine is traded in for a newer machine having a $49,100 cash price. A $15,524 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. View transaction list Journal entry worksheet 1 Record the exchange assuming that the exchange has commercial substance. Note: Enter debits before credits General Journal Debit Credit Date Jan 02 Activate Windows Go to Settings to activate W do 81 7/24 O BU there to search