A company’s old machine, which cost $30,000

by | Mar 18, 2020 | Uncategorized

  

A company’s old machine, which cost $30,000 and had accumulated depreciation of $21,000, was traded in on a new machine of like purpose having an estimated 20-year life with an invoice price of $40,000. The company also paid $33,000 cash, along with its old machine to acquire the new machine. The value of new machine should be recorded at:

  

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