Mathematics, 08.08.2019 04:10 malikfitzgerald1910

Cedric company recently traded in an older model computer for a new model. the old model’s book value was $202,000 (original cost of $442,000 less $240,000 in accumulated depreciation) and its fair value of the old equipment is $190,000. cedric paid $62,000 to complete the exchange which has commercial substance. required: prepare the journal entry to record the exchange. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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Cedric company recently traded in an older model computer for a new model. the old model’s book valu...