Business
Business, 27.07.2020 01:01, loveoneonly4379

A company traded an old forklift for a new forklift, receiving a $10,500 trade-in allowance and paying the remaining $37,200 in cash. The old forklift cost $39,000 and straight-line accumulated depreciation of $27,200 had been recorded as of the exchange date under the assumption it would last five years and have a $5,000 salvage value. a. What was the book value of the old forklift on the date of the exchange

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A company traded an old forklift for a new forklift, receiving a $10,500 trade-in allowance and payi...

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