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Would you please help me with the journal entries for this? The accounts are Trucks (new), Used, Cash, accumulated depreciation, and loss on disposal. Bridgeport
Would you please help me with the journal entries for this?
The accounts are Trucks (new), Used, Cash, accumulated depreciation, and loss on disposal.
Bridgeport Corporation traded a used truck for a new truck. The used truck cost $23,600 and has accumulated depreciation of $24,310The new truck is worth $50,050, Bridgeport also made a cash payment of $47.190. Prepare Bridoeport's entry to record the exchange. (The exchange has commercial substance.) (Credit account tities are automatically indented when amount is entered. Do not indent manualy. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Fxplanation Dehit Credit
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