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I only need answer for the part that I did it wrong Marin Ltd. traded a used welding machine (cost $ 9,300, accumulated depreciation $
I only need answer for the part that I did it wrong
Marin Ltd. traded a used welding machine (cost $ 9,300, accumulated depreciation $ 1,880, fair value $ 2.950) for equipment with an estimated fair value of $8,940. Marin also paid $ 4,470 cash in the transaction Prepare the journal entry to record the exchange. The equipment results in different cash flows for Marin, compared with those the welding machine produced. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Equipment 8940 Accumulated Depreciation Machinery 1880 Loss on osalot Machinery 2950 Machinery 9300 Cain Step by Step Solution
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