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Exercise 9-23 Exchanging PPE LO6 On November 3, 2020, Gamez 2 Go Media exchanged an old computer for a new computer that had a
Exercise 9-23 Exchanging PPE LO6 On November 3, 2020, Gamez 2 Go Media exchanged an old computer for a new computer that had a list price of $198,000. The original cost of the old computer was $158,000 and related accumulated depreciation was $69,000 up to the date of the exchange. Gamez 2 Go Media received a trade-in allowance of $104,000 and paid the balance in cash. Required: a. Record the exchange assuming the fair values are unknown. View transaction list Journal entry worksheet 1 Record the exchange of computers. Note: Enter debits before credits Date November 03, 2020 General Journal) Debit Credit
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