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If I bought a new car for a price of $33,925, and was going to trade in my old car that cost me $30,000, is
If I bought a new car for a price of $33,925, and was going to trade in my old car that cost me $30,000, is fully depreciated, and has a salvage value of $5,000. The people I am going to buy my car from are going to give me a $6,000 trade in on my car. Whats the journal entry for all of this?
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