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Journal entry

3. On 1 July 2018, Naviget Bhd traded its old laser machine for a newer and cost-efficient ONM= Cash par air-cooled ion laser machine. The old machine is reported to have a net book value of CA -7RM350,000 being its (cost of RM500,000 and an accumulated depreciation of RM150,000. The fair value of the new machine is RM580,000. Naviget Bhd paid @ Ace Dep. RM300,000) for the exchange. The expected useful life of the new machine is ten, ' Loss / Gain years 3Depreciation + or cold