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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

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Dancer Company traded in a reindeer-powered sleigh for a fuel-efficient sleigh and paid $5,200 cash. The old sleigh cost $60,450, had a net book value of $46,150 and a fair value of $39,000. Which of the following is the correct journal entry to record the exchange assuming commercial substance?
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