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Question 5: On 1/1/2019 Company purchased trucks for 64'000 JD and estimated useful life 10 years and no residual value and the straight line method

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Question 5: On 1/1/2019 Company purchased trucks for 64'000 JD and estimated useful life 10 years and no residual value and the straight line method is used for depreciation. On 1/1/2024 the company exchanged its old trucks for new ones and paid 4000 JD cash. The fair value for old trucks is 36'000 JD. Record daily entry for exchange

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