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Prepare all necessary journal entries

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Reference no: EM131746253

This is a monetary exchange with a gain or loss

Equipment that cost $48,000 and has accumulated amortization of $38,400 is exchange for similar equipment with a fair value of $14,000 and $4,000 cash is received.

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Prepare all necessary journal entries

Reference no: EM131746253

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Prepare all necessary journal entries : Equipment that cost $48,000 and has accumulated amortization of $38,400 is exchange for similar equipment with a fair value
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