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please show your work and do it on excel Metal Toy Company purchased a sheet metal cutter that cost $27,000 on January 5, 2011. This
please show your work and do it on excel
Metal Toy Company purchased a sheet metal cutter that cost $27,000 on January 5, 2011. This old cutter had an estimated life of ten years and a salvage value of $3,000. On May 1, 2016 the old cutter is exchanged for a similar cutter with a market value of $15,000. Metal Toy also received $5,000 cash. Instruction: Record any entries required on May 1, 2016 assuming Metal Toy uses the straight-line method of depreciation
please show your work and do it on excel
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