Business
Business, 31.03.2020 04:39, Jakyramason

A company purchased equipment valued at $120,000. It traded in old equipment for a $95,000 trade-in allowance and the company paid $25,000 cash with the trade-in. The old equipment cost $110,000 and had accumulated depreciation of $33,000. This transaction has commercial substance. What is the recorded value of the new equipment

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A company purchased equipment valued at $120,000. It traded in old equipment for a $95,000 trade-in...

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