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The Bacon Company acquired new machinery with a price of $13,623 by trading in similar old machinery and paying $12,260.70. The old machinery originally cost

The Bacon Company acquired new machinery with a price of $13,623 by trading in similar old machinery and paying $12,260.70. The old machinery originally cost $9,815 and had accumulated depreciation of $7,852.00. In recording this transaction, what should Bacon Company record?

a.a gain of $600.70

b.the new machinery at $11,660.00

c.a loss of $600.70

d.the new machinery at $12,260.70

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