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Swifty Company traded a used truck for a new truck. The used truck cost $ 32,100 and has accumulated depreciation of $ 28,890. new truck
Swifty Company traded a used truck for a new truck. The used truck cost $ 32,100 and has accumulated depreciation of $ 28,890. new truck is worth $39,590. Swifty also made a cash payment of $38,520. Prepare Swifty's entry to record the exchange. (The exchange lacks commercial substance.)
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