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1 Willis Bus Service traded in a used bus for a new one. The original cost of the old bus was $54,900. Accumulated depreciation at the time of the trade-in amounted to $35,800. The new bus cost $79,000 but Willis was given a trade-in allowance of $10,000. a. What amount of cash did Willis have to pay to acquire the new bus? b. Compute the gain or loss on the disposal for financial reporting purposes 01:35:26 Complete this question by entering your answers in the tabs below. Required A Required B What amount of cash did Willis have to pay to acquire the new bus? Payment of cath Mequired Required > MC Graw Hill Prey 1 of 17 18 Next >