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Riverbed Company traded a used welding machine (cost $9,900, accumulated depreciation $3,300) for office equipment with an estimated fair value of $5,500. Riverbed also paid
Riverbed Company traded a used welding machine (cost $9,900, accumulated depreciation $3,300) for office equipment with an estimated fair value of $5,500. Riverbed also paid $3,300 cash in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.)
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