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could you please show the calculation of the joirnal enteries? Windsor Ltd. traded a used truck (cost $31,100, accumulated depreciation $27,990, fair value $1,720 )
could you please show the calculation of the joirnal enteries?
Windsor Ltd. traded a used truck (cost $31,100, accumulated depreciation $27,990, fair value $1,720 ) for a new truck. Windsor did look up the value of its used truck and determined its fait value at the date of the trade is $1,720, The list price of the new truck is $36,530 and the trade-in allowance given on the trade was $4,830. If Windsor paid $31,700, what should be the amount used as the cost of the new truck? The cost of the new truck Prepare Windsor's entry to record the exchange. (Credit occount titles are outomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the occount titles and enter Ofor the amounts. List all debit entries before credit entries:) Step by Step Solution
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