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please help me with the journal entries, thank you! Nash Company exchanged equipment used in its manufacturing operations plus $3,120 in cash for similar equipment
please help me with the journal entries, thank you!
Nash Company exchanged equipment used in its manufacturing operations plus $3,120 in cash for similar equipment used in the operations of Crane Company. The following information pertains to the exchange. Equipment (cost) Accumulated depreciation Fair value of equipment Cash given up Nash Co. $29,120 19,760 13,000 3,120 Crane Co. $29,120 10,400 16,120
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