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Sheridan Corporation traded a used truck (cost $ 29,600, accumulated depreciation $ 26,640) for a small computer with a fair value of $ 4.884. Sheridan
Sheridan Corporation traded a used truck (cost $ 29,600, accumulated depreciation $ 26,640) for a small computer with a fair value of $ 4.884. Sheridan also paid $ 740 in the transaction Prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer MacBook Pro esc C G Search or type URL B ( 8 % +
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