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What are the related journal entries for the purchase

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Reference no: EM132614268

Question 1: Company ABC bought a van for 32,000 in 2017 using a line of credit. The Van was depreciated at a rate of 30%. In 2020 the van was traded in for a new truck at $54,000 and the trade in value was $17000. there was 18,000 owing on the Van. What are the related Journal entries for the purchase of the Van and then the truck

Reference no: EM132614268

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