Business, 15.04.2020 03:47, maddy6882

ABC Catering, purchased equipment for $ 12 comma 000. ABC recorded total depreciation of $ 9 comma 000 on the equipment. Assume that ABC exchanged the old equipment for new equipment, paying $ 3 comma 200 cash. The fair market value of the new equipment is $ 5 comma 800. Journalize ABC's exchange of equipment. Assume this exchange has commercial substance

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ABC Catering, purchased equipment for $ 12 comma 000. ABC recorded total depreciation of $ 9 comma 0...