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Instructions Record the acquisition of each of these assets. E10.17 (Lo 3) (Nonmonetary Exchange) Busytown Corporation, which manufactures shoes, hired a recent college graduate to

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Instructions Record the acquisition of each of these assets. E10.17 (Lo 3) (Nonmonetary Exchange) Busytown Corporation, which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. Busytown Corporation gave the machine plus $340 to Dick Tracy Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. E10.25 (LO 5) (Disposition of Assets) On April 1, 2020, Estefan Company received a condemnaion award of $430,000 cash as compensation for the forced sale of the company's land and building, which stood in the path of a new state highway. The land and building cost $60,000 and $280,000, respecively, when they were acquired. At April 1, 2020, the accumulated depreciation relating to the building amounted to $160,000. On August 1, 2020. Estafan purchased a piece of replacement property for cash. The new land cost $90,000, and the new building cost $400,000

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