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Find and prepare the journal entry for the transaction

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Reference no: EM132701886

A company traded Car A (with an original cost of $2,000, accumulated depreciation of $600, and appraised value of $1,700) plus paying $200 cash; for Car B with a list price of $1,980. The transaction has commercial substance.

Problem 1: Prepare the journal entry for the transaction.

Reference no: EM132701886

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