Required information Knowledge Check 01 On January 3, Carothers Corporation acquired $100,000 in new equipment in exchange for cash of $90,000 cash and a trade equipment. That old equipment originally cost $90,000 and had accumulated depreciation of 575.000, it had a book value of $15.000 at the time of exchange Complete the necessary adjusting entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns View transaction ist Journal entry worksheet 1 On January 3, Carothers Corporation acquired $100,000 in new equipment in exchange for cash or $90,000 cash and a trade-in of old equipment. That old equipment originally cost $90,000 and had accumulated depreciation of Next >