Question 7 of 32

Question 7 of 32 View Policies Current Attempt in Progress Bonita Industries traded in a manual pressing machine for an automated pressing machine and gave $44000 cash. The old machine cost $473000 and had 3 net book value of 3338000. The old machine had a fair value of $290000. Which of the following is the correct journal entry to record the exchange assuming commercial substance? O O O O Equipment Accumulated Depreciation Equipment Cash Equipment Loss on Disposal Accumulated Depreciation Equipment Cash Cash Equipment Loss on Disposal Accumulated Depreciation Equipment Equipment Equipment Cash Save for Later 652000 135000 473000 44000 334000 48000 135000 473000 44000 44000 290000 48000 135000 517000 334000 290000 44000 Attempts: O of 1 used Submit Answer