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At what amount should the new truck be recorded in A books

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Reference no: EM132733145

Question - A company traded in a used delivery truck with carrying amount of 54,000 for a new delivery truck having a list price of 160,000 and paid a cash difference to the dealer of 75,000. The used truck has a fair value of 60,000 on the date of exchange. At what amount should the new truck be recorded in A's books?

a. 135,000

b. 106,000

c. 160,000

d. 129,000

Reference no: EM132733145

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