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Dancer Company traded in a reindeer - powered sleigh for a fuel - efficient sleigh and paid $ 5 , 2 0 0 cash. The
Dancer Company traded in a reindeerpowered sleigh for a fuelefficient sleigh and paid $ cash. The old sleigh cost $ had a net book value of $ and a fair value of $ Which of the following is the correct journal entry to record the exchange assuming commercial substance?
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