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On July 6, Telly Corp. trades a truck costing $83,000 and having accumulated depreciation of $35,400 for new machinery with a fair value of $44,800
On July 6, Telly Corp. trades a truck costing $83,000 and having accumulated depreciation of $35,400 for new machinery with a fair value of $44,800 and also receiving $7,300 in cash. Assume the transaction lacks commercial substance. Record the July 6 nonmonetary exchange entry. Please copy and paste the blank table below into your answer field and type in the necessary information. Note that not all lines may be needed. Date Account Debit Credit
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