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Current Attempt in Progress In an exchange that had commercial substance, Bonita Company traded production equipment for a newer model and gave $5000 cash. The

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Current Attempt in Progress In an exchange that had commercial substance, Bonita Company traded production equipment for a newer model and gave $5000 cash. The original machine had a cost $1225000, a book value of $989000, and a fair value of $1062000. The journal entry to record this transaction on Bonita's books is

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