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The company traded a old forklift for a new one receiving a $13,500 trade in allowance and paying the remaining 47,200 in cash the old

The company traded a old forklift for a new one receiving a $13,500 trade in allowance and paying the remaining 47,200 in cash the old forklift had cost 43,000 a 5 year useful life and a 5,000 salvage value. straight line accumulated depreciation of 27,200 had been recorded as of the exchange date

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