Pronghorn corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $3,498. pronghorn also paid $530 in the transaction. prepare the journal entry to record the exchange, assuming the exchange lacks commercial substance.

Truck:

Cost = $20,000

Accumulated depreciation = $18,000

Small computer worth = $3,498

Paid in transaction = $530

The Journal entry is as follows:

Equipment/Computer A/c                       Dr. $3,498

Accumulated depreciation-Truck  A/c   Dr. $18,000

To Truck                                                                        $20,000

To Gain on disposal of truck                                        $968                                        

To cash                                                                          $530

(To record the exchange)

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

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