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What is the journal entry to record the acquisition

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Question 1. On July 19, 2019 Akita International Corporation traded in a printing machine for a new one priced at $2,600 receiving a trade-in allowance of $600 and the paying the balance in cash. The old machine cost $1,800 and had an accumulated depreciation of $1,400. What is the journal entry to record the acquisition of the new machine?

Reference no: EM132771681

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