During 2018 Cora Corporation completed the following transactions:

Record the transactions in the journal of Cora Corporation. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Jan. 1: Traded in old office equipment with book value of $ 30 comma 000$30,000(cost of$ 97 comma 000$97,000 and accumulated depreciation of$ 67 comma 000$67,000)for new equipment. Cora Coraalso paid$ 60 comma 000$60,000 in cash. Fair value of new equipment is$ 91 comma 000$91,000.Assume the exchange had commercial substance. (Record a single compound journal entry.)

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P9A-35A (similar to) Qucstion Hclp During 2018, Cora Corparation camplatad the tolowing transactions Cick the jcon to vigw transacdons) Record the transactions in the jaumal of Cora Corporation (Record debits first, then credits. Select the cxplanation on the last line of the journal cntry table.) Jan 1: Traced in ald cffice cquipment with book value of $30,000 (cost of $97,000 and accumulatod doprociation of $67,000) for new oquipmant. Cora also paid $00.000 in cash. Fair va luo of now equlpment is $91.000. Assume the exchange had commercial substan co. (Rccord a single compound joumal entry) Credi coounts und Explunation Debit = Cffice Equipment (new Accumulatad nepraciation-Cmica Fouipmant 67DD0 Gain on Dispgsal fico Fculnment (aldt Chouse am any Irst or enle any number the imput felts and then clck Check Answen (7 - X i More Info Traded in old office equipment with book value of $30,000 (cost of $97,000 and accumulated depreciation of $67,000) for new equipment. Cora also paid $60,000 in cash. Fair value of new equipment is $91,000. Assume the exchange had commercial substance Sold equipment that cost $12,000 (accumulated depreciation of $1,000 through December 31 of the preceding year). Cora received $8,400 cash from the sale of the equipment. Depreciation is computed on a straight-line basis. The equipment has a five-year useful life and a residual value of $0. Jan. 1 Apr. 1 Dec. 31 Recorded depreciation as follows: Office equipment is depreciated using the double-declining-balance method over four years with a $6,000 residual value Print Done