Business, 17.01.2020 01:31 mcmmonforte

1on january 3, carothers corporation acquired $200,000 in new equipment in exchange for cash of $170,000 cash and a trade-in of old equipment. that old equipment originally cost $180,000 and had accumulated depreciation of $160,000; it had a book value of $20,000 at the time of exchange. this exchange of assets has commercial substance. the cash account will be credited for $170,000. (that credit could not be shown below.) prepare the journal entry.

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1on january 3, carothers corporation acquired $200,000 in new equipment in exchange for cash of $170...

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