Black n white company purchased equipment

by | Mar 18, 2020 | Uncategorized

  

Black n white company purchased equipment for 45, 000. the company recorded total depreciation of $36,000 on thru equipment. On January 1,2015, black n white traded in the equipment for new equipment, paying $65,00 cash.the fair market value of the new equipment is 65,00.journalize the company s exchange of equipment. Assume the exchange had commercial substance.

  

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